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.
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.
- Bank Rate | Simple Savings Calculator
- FINRA | Savings Calculator
- Money Smart | Savings Goals Calculator
- This is Money | Monthly Savings Calculator
- Money Facts | Monthly Savings Plan Calculator
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.
- Bank Rate | Retirement Planner Calculator
- Vanguard | Retirement Income Calculator
- AARP | Retirement Calculator
- Schwab | Retirement Savings Calculator
- Bloomberg | Retirement Calculator
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.
- Rate Hub |Mortgage Affordability Calculator
- Trulia | Mortgage Calculator
- Terra Caribbean | Mortgage Calculator
- Caribbean Mortgages | Mortgage Calculator
- Bloomberg | Fixed Mortgage Loan Calculator
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.
- PRate City | Personal Loan Calculator
- Credit Karma | Simple Loan Calculator
- Money Smart | Personal Loan Calculator
- Bank Rate | Loan Calculator
- Info Choice | Personal Loan Repayment Calculator
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.
- Student Loan Hero | Student Loan Monthly Calculator
- Repayment Estimator Calculator
- Student Loan Calculator
- Bank Rate | Student Loan Calculator
- New York Times | Student Loan Calculator
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.
- Money Advice Service | Credit Card Calculator
- Credit Cards | Minimum Payment Calculator
- Consumer Credit | Credit Card Interest Calculator
- Card Costs | Credit Card Cost Calculator
- CALC Xml Credit Card Payoff Calculator
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.
- Bank Rate |Auto Loan Calculator
- Dinky Town | Auto Loan Early Payoff Calculator
- Road Loans | Auto Refinance Calculator
- Nerd Wallet | Car Loan Calculator
- My Amortization Chart | Auto Loan Amortization Calculator
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.
- Financial Times |Debt Freedom Calculator
- The Simple Dollar | Debt Payoff Calculator
- CNN Money | Debt Free Calculator
- CALC Xml | Debt Restructuring Calculator
- You Can Deal With It | Debt Repayment Calculator
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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