Tool

Debt vs. Savings Calculator

Punch in a credit card balance, a savings rate, and an extra monthly amount — see the real payoff timeline instead of guessing. No sign-up, no catch.

Your credit card

Balance$10,000

$500$50,000

Annual interest rate (APR)20.0%

8%30%

Estimated minimum payment

$266.67/mo

max($35, 1% of balance + monthly interest)

Your savings account

Current savings balance$0

$0$20,000

Annual interest rate (APY)4.00%

1%6%

Monthly interest on current savings balance

$0.00/mo

Extra monthly amount

How much can you put toward debt or savings beyond your minimum payment?

Extra per month$300

$0$2,000

Total monthly budget for this comparison

$566.67/mo

$267 min payment + $300 extra

Projection length

Years to project

PAY DEBT — full budget to CC until gone, then savings

SAVE MONEY — min pay + extra to savings each month

Debt payoff timeline

PAY DEBT

—

until debt free

SAVE MONEY

—

still carrying debt

Interest paid to the bank

SAVE MONEY

—

in CC interest charges

PAY DEBT

—

in CC interest charges

—

Net worth after 4 years

—

net worth — leading

—

net worth — trailing

Mo	Save Money			Pay Debt			Gap B−A
Mo	CC bal	Sav bal	Net worth	CC bal	Sav bal	Net worth	Gap B−A

Educational tool — not financial advice · Finance Reframed