Top 40 Personal Finance Tools and Calculators

Personally, I think it’s hard to find effective financial tools and calculators. On a random day when I find myself wanting to calculate something and I have to search so many websites to find the right tool. One day I decided to just sit down and create a long list of personal finance tools and calculators grouped by their specific purpose.

As a result, I’ve sourced forty of the best tools and calculators to get your personal and business matters under control. You can select from this list of recommended calculators to create a personal budget, find out how much you need to qualify for a mortgage, create a debt payoff plan, create a savings plan and assess your financial needs for retirement.

If you are serious about personal finance, you will need a calculator at some point in time.

Savings Calculators

If the 10% rule is not quite what you had in mind for a savings strategy, then a savings calculator might be able to help you to create a plan. The savings calculator gives you an estimate of how your savings could accumulate over a period time. And, depending on your savings goals, you would have an idea of how you can increase your contributions.

Retirement Calculators

To be very honest with you, out of all of the topics in personal finance, retirement is the one area that concerns me the most. Although I think that I’ve been contributing enough for a comfortable nest egg, I’m nervous about the unknown risks that could pop up. The retirement calculator provides an idea of where your current pension contributions will put you at your desired retirement age.

Mortgage Calculators

These mortgage calculators are very useful if you are trying to get an idea of what your potential mortgage would be. A couple of these calculators are tied to real estate sites which makes it easy to see how much you would be paying back monthly for a property that’s in your desired price range.

Personal Loan Calculators

A personal loan is usually an unsecured loan that is not backed by any assets or collateral. These are the loans that you can use to pay for emergencies or any other immediate expenses. At least one of these personal loan calculators allows you to calculate how much you want to borrow based on your needs and financial situation. You can use them to compare personal loans from different institutions.

Student Loan Calculators

Don’t get caught up with student loan debt. Always be on the lookout for scholarships and grants and try to keep your student loans as low as possible. These student loan calculators will assist you in averaging what your payback will be after you’ve completed your studies. They can also be helpful for people looking to pay off their student loans faster than the stipulated time.

Credit Card Calculators

Before this exercise, I never knew that personal finance tools and calculators included calculators for credit cards. These calculators provide a look at how much your credit cards cost you, how much money you would have to pay to clear them off and the number of payments required to clear off the card. My caution is that if you’re going to start paying off your credit card, you should not make any new purchases with it.

Vehicle Loan Calculators

Use these vehicle loan calculators to estimate what your monthly payments on a new or used vehicle will be. There is also a calculator that estimates how much you would need to pay to pay off your vehicle loan faster. When looking at vehicle loans, you will no doubt be focused on the price of the car, the required down payment, the loan interest rate, the payback period and the premium. However you should also consider the age of the car, insurance, fuel requirements and potential upkeep costs.

Debt Payoff Calculators

One of my favourite type of calculators in this list of personal finance tools and calculators, is the debt payoff calculator. The other types of calculators on this list help you to manage debt and plan your debt. But the debt calculators helps you to get rid of debt. I recently paid off a small debt using the debt snowball method and to do it, I used a debt payoff calculator as my starting point. The aim was to payoff the loan by the end of the year, and the debt payoff calculator allowed me to create a plan.

Disclaimer: The results from these calculators should be used as an indication only. Results do not represent quotes or pre-qualifications for loans or mortgages.

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