Banking & Budgeting
Should I Pay Down Debt Or Invest My Monthly Surplus?
When you receive some extra money it may be difficult to determine whether you should invest the funds or use them to retire debt. Financial theory recommends that if your after-tax return on investments is greater than your after-tax cost of debt then you should invest. However, remember to consider the inherent riskiness of the investment you select (i.e. you may lose the money you invest yet still have obligations to pay back the liability). Use this calculator to help analyze your situation.
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This calculator is provided by Financial Calculators, Inc., and is intended solely for general information and educational purposes. You should not take any action on the basis of the information provided through this calculator. Please see the disclaimer for further information and limitations.
Rates
See today's average rates across the country.
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Loan Type Today Last Week 30 Year Fixed 4.30% 4.33% 15 Year Fixed 3.76% 3.79% 1 Year ARM 3.18% 3.18% 30 Year Fixed Jumbo 5.28% 5.32% 5/1 ARM 3.26% 3.31% 3/1 ARM 3.44% 3.37% Source: Bankrate -
Loan Type Today Last Week $30K Home Equity Loan 7.39% 7.39% $50K Home Equity Loan 7.27% 7.28% $75K Home Equity Loan 7.31% 7.30% $30K HELOC 5.03% 5.04% $50K HELOC 4.78% 4.78% $75K HELOC 4.75% 4.76% Source: Bankrate -
Loan Type Today Last Week 36 Month New Car Loan 5.79% 5.80% 48 Month New Car Loan 5.87% 5.88% 60 Month New Car Loan 5.93% 5.93% 72 Month New Car Loan 3.78% 3.78% 36 Month Used Car Loan 6.22% 6.24% 48 Month Used Car Loan 6.03% 6.04% Source: Bankrate -
Card Type Today Last Week Low Interest Credit Cards 11.99% 11.99% Cash Back Credit Cards 12.49% 12.31% Balance Transfer Credit Cards 12.81% 12.68% Business Credit Cards 12.85% 12.85% Airline Credit Cards 14.37% 14.14% Reward Credit Cards 14.38% 14.31% Source: CreditCards.com
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