Oftentimes financial planning can feel like a lonely, confusing endeavor. However, there are calculators that can help you see how to make the most of your money through strategic changes, as well as some that can help you run scenarios to plan for the future. From debt payoff to savings goals to loan costs and more, here’s a list of online financial calculators that can help you create a strategic financial plan.
Types of Online Financial Calculators
For Managing Your Financial Present & Planning for the Future
There seems to be a financial calculator out there to plan for just about any aspect of your budget. Below are just a few that can help you get started on calculating where you stand now and creating plans for your goals moving forward:
- Plan your budget
- Determine what you need in an emergency fund
- Determine your net worth
- Determine what you need to save for retirement
- Plan for general savings goals
- Learn how much of a tax return you might get
For Paying Off Debt
Debt payoff can be a long journey — but that journey can sometimes be shortened through things like strategic debt payments, refinance and consolidation, and more. Here are some calculators to help you learn ways you might be able to decrease the amount of time (and money) you spend on debt:
- Find out when you’ll be free of debt based on your current payments
- Learn how to make a more strategic debt payoff plan
- Find the impact of an extra payment on debt
- See how much you might be able to save through a credit card balance transfer
- Discover the potential benefits of consolidating your debt into a loan
- See what refinancing your mortgage might look like
- See what refinancing your auto loan might look like
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For Comparing Credit Options
Finally, it’s important to rate shop and compare your options when in the market for new credit. That way you can work to get the lowest interest rate you’re eligible for — and make it easier to pay off the debt in the long run. These calculators can help you map out and compare your options before you sign on the dotted line:
A Little Strategy Can Go a Long Way
As much as it can sometimes feel like we’re stuck with the budget we have (and the debt we have), simple moves like changing the way you make payments, save money, or reduce your interest rates can drastically change the outlook. Online financial calculators like these can help you run the numbers before you take any real action, thus enabling you to maximize your money without taking a large risk.