Is it smarter to get a root canal or to get the tooth pulled instead?

The smartest: Thing to do is to discuss your options with your local, treating dentist. Which tooth is it? What condition are your other teeth in? What's your long term plan? If you extract the tooth, it should be replaced, which will cost even more. Treatment planning requires more than just posting a question... Please make an appointment with a local dentist.

RCT or EXT?: If the tooth can be salvaged with root canal therapy, restored and maintained for a long time, it would be better to save it with rct. If you will not properly take care of it, it is too far decayed, has severe bone loss and mobility or has a poor long term prognosis, it would be better to extract it. Your own dentist can properly evaluate it and guide you into making the right decision what to do.