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Debt & Savings

Debt payoff, emergency funds, net worth, saving strategies.

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About Debt & Savings

Debt payoff and savings growth are two sides of the same math problem: rate, balance, and time. Small changes in any of those variables compound into large differences over years. This section covers debt payoff strategies (avalanche and snowball), emergency fund targets, compound interest calculations, and net worth tracking. The calculators help you see the real trade-offs before you commit to a plan.

Tools 3

Credit Card Payoff Calculator Calculate months to debt-free, total interest, and the savings from boosting your monthly payment over the credit-card minimum, with a minimums-only vs accelerated-payoff side-by-side.
Debt Payoff Calculator Calculate how long it will take to pay off your debts and how much interest you will pay using the snowball or avalanche method.
Retirement Account Comparison Calculator (Roth vs Traditional vs Taxable, US + Canada) Compare a year of contributions to Traditional (401(k) / RRSP), Roth (Roth IRA / TFSA), or a taxable brokerage account across decades, with the after-tax retirement value math that makes the Roth-vs-Traditional decision defensible. Uses a fair equal-after-tax-outlay comparison, models capital-gains drag on the taxable account, and names the winner for your current and expected retirement tax brackets.

Guides 2

How to Build an Emergency Fund Learn how much to save in an emergency fund, where to keep it, how to start from zero, and the most common mistakes that stall progress.
How to Start Saving for Retirement (US + Canada, From Zero) The I-haven't-started-yet anchor guide: why the first decade of compounding matters most, why the employer match comes before everything, the 4-vehicle priority order, the 15 to 20 percent savings target, index funds vs target-date funds, and how to actually open Roth IRA, 401(k), TFSA, RRSP, and FHSA accounts in the US and Canada.

Printables 2

Net Worth Tracker Print this net worth tracker to list your assets and liabilities, calculate your net worth, and track changes year over year.
Retirement Contribution Tracker (Multi-Year, US + Canada) Print this multi-year retirement contribution log to track every account type year over year: 401(k), Roth IRA, Traditional IRA, HSA, RRSP, TFSA, FHSA, and taxable, with a contribution-limit reference, the 4-vehicle priority order, annual savings-rate calculation, and a Canadian RRSP-vs-TFSA decision tree.

Frequently asked questions

Should I pay off debt or save first?

Build a small starter emergency fund ($1,000 to $2,000) so you don't rack up new debt during surprises, then attack high-interest debt (above 7-8%) aggressively, then rebuild a full 3 to 6 month emergency fund. The order matters because high-interest debt grows faster than any savings account earns.

Which debt payoff method is better, avalanche or snowball?

Avalanche (highest rate first) saves more money mathematically. Snowball (smallest balance first) gives faster wins and keeps motivation higher, which is why it has better real-world completion rates. Our debt payoff calculator compares both side by side for your specific debts.

How much should I keep in an emergency fund?

3 months of essential expenses (rent, utilities, food, insurance, minimum debt payments) is the floor; 6 months is the target for most households. Self-employed and single-income families should aim for 6 to 12 months because income shocks take longer to recover from.

Where should I keep the emergency fund?

A high-yield savings account at an FDIC-insured bank, accessible within 1 to 2 business days but not tied to your daily checking account (to reduce temptation). Money market accounts and short CDs are fine for portions you don't expect to need immediately.

How fast will compound interest grow savings?

Rule of 72: divide 72 by your interest rate to get doubling time in years. At 4% annual return, money doubles every 18 years. At 7%, every 10 years. Our compound interest calculator shows the growth curve for your specific rate and monthly contribution.

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