When it comes to proper financial planning, a good grasp of numbers is quite necessary. However, the unfortunate thing is that some people just can’t handle numbers. But, that is no excuse to ignore financial management.
Luckily, the modern age has made things easier with what we call technology. It is so much simpler to crunch numbers now than ever before because we have computer applications doing all the work for us. Not only do they make the task easier, they even save us time by completing calculations in seconds.
Plus, the chances of human error are also greatly minimized. So, if you’re wondering what calculators to use for your financial planning and management, here are a few that are worth a try.
The debt calculator is an extremely simple tool. All you have to do is enter your debt account information and calculate the interest that needs to be paid over the entire tenure of the debt. The calculation can either be done according to the minimum amount being paid or the fixed amount being paid.
This app by Google gives you the ability to monitor multiple (maximum 5) debt accounts. The app also provides details about how to reduce each debt. One of the common strategies is to start by paying off the lowest balance.
Like the Debt Calculator, this tool helps you calculate the necessary payments you will need to make over the entire dent tenure. For the calculation, you will, of course, need to provide the debt/interest amount.
This tool factors in current monthly payments, expected property down payment, and income to determine the type of property/home you can afford based on price.
The Mortgage Payment Calculator will assess several variables to determine how much you can spend for your monthly mortgage payments.
