Personal Finance Calculators: Number Crunchers Win
If you’re into do-it-yourself personal finance, don’t go out there and wing it. Use this library of personal finance calculators to get accurate numbers that will help your decision-making process.
We created the algorithms, all you need to do is enter accurate information.
Calculating your personal finances will help you plan for the future and allow you to fully understand how much loans cost, and the effect variables like interest rate, loan term and principle have on your bottom line. For the best results enter numbers that are as accurate and honest as possible.
Debt Consolidation Calculator
This debt consolidation calculator will help you compute what your monthly payment will be if you consolidate your credit card debt into a single loan. Debt consolidation means taking out one large loan to pay off debts from multiple sources such as credit cards or small loans.
Find out if working with a credit card consolidation company will save you money, either through a debt management program or debt consolidation loan.
To compare costs for a debt management program, enter the expected interest rate (typically 9-11%) and loan term (3-5 years) on the top half of the page. On the bottom, enter only unsecured debts (credit cards, payday loans etc.).
For a debt consolidation loan, enter expected rate (6% or higher, depending on credit score) and term (3-5 years) on top and any unsecured or secured debt (car, boat, RV) below.
The end result of debt consolidation should be a lower monthly payment and interest rate. If it’s not, then you may need to choose another way to eliminate your debts.
Credit Card Payoff Calculator
Americans today owe more $1 trillion on credit card debt. Use our calculator to figure out when you can pay off your credit card and stabilize your financial situation. Find out how much quicker the process works if you add $25 or $50 a month to your payments. This calculator is especially helpful if you are using the debt snowball method of debt repayment.
Credit card debt is the No. 1 source of financial problems for most consumers, so the faster you eliminate it, the better off you will be.
How Much Home Can I Afford?
There is more that goes into buying a house than you might think. Are you looking at a 15-year or 30-year mortgage? How much are closing costs, inspection fees, appraisals, etc.? Use our home affordability calculator to determine how much of a mortgage you may qualify for and see all the factors that go into buying a home.
Creating a budget is the foundation for any financial planning, yet only 40% of American consumers have one. Use this calculator to compare your monthly expenses against your income. Do you have a surplus or a deficit every month?
Auto Payment Estimator
Knowing what you can afford on a monthly basis before you begin searching for a car will make it easier to buy a new vehicle. Experts suggest that you should not allocate more than 20% of your take-home pay towards monthly auto payments.
Do you need to change your focus from buying a new car to purchasing a used one? Use our car payment calculator to figure out what terms match your budget, and look over the vocabulary you’ll need to master in order to hold your own against a car dealer.
How Much Vehicle Can I Afford?
Experts suggest that you should not allocate more than 20% of your take-home pay towards monthly auto payments.
How Much Will I Need to Save For Retirement?
Retirement should be the happiest days of your life. This pre-retirement calculator will ensure that by determining how well you have prepared and what you can do to improve your retirement outlook.
Why Use Personal Finance Calculators
Using our financial calculators will help you make smarter financial decisions. A budget, credit card payment, mortgage, auto loan and retirement savings are the pillars of financial success. If you find yourself in debt, consolidation will be the sixth. You don’t want to walk into these decisions blindly.
Take buying a car, for example. You might walk into a dealership with a number floating around your head, but where did that number come from? Take a minute to crunch the numbers, and you’ll have the confidence to make the right financial decisions.
About The Author
In his 40-plus-year newspaper career, George Morris has written about just about everything -- Super Bowls, evangelists, World War II veterans and ordinary people with extraordinary tales. His work has received multiple honors from the Society of Professional Journalists, the Louisiana-Mississippi Associated Press and the Louisiana Press Association. He avoids debt when he can and pays it off quickly when he can't, and he's only too happy to suggest how you might do the same.