Money (MP) For some people, calculators are age-old stuffs, tools of the past. They consider it among extinct inanimate species. I am convinced massive technological advancements in the past few decades have changed the way we use online financial calculators. But still today we make use of this amazing tool to figure out problems of complex and large numbers.
Here are 5 online calculators that have proven their mettle in solving many financial calculations that every household needs in their day-to-day life.
Financial Calculators Free to Use Online
1. Mortgage Payment Calculator: Calculate your monthly mortgage payments
None wants to lose his/her sweet abode. Even a vagabond dreams of his own house. Determining your monthly mortgage premiums if you are going for a house is very significant. This will help you figure out if the monthly premiums are at all affordable for you. Investopedia’s mortgage payment calculator makes the job easier. You just need to know the mortgage amount, term, and the rate of interest. Once entered in the respective fields, the financial calculator will serve you with the monthly payments in moments. Apart from this, it also shows you mortgage rates on daily basis.
2. Retirement calculator: Is Your Retirement On Track?
The AARP offers you retirement financial calculators that determines how your financial future might look like. You just need to answer a few questions about your household status, paychecks, and savings such as IRA or 401(k). There are also fields to put information about your supplemental retirement income – Social Security or pension plan. Just put how long you intend to work and when to retire. The tool will give you ballpark figures you’d need to retire.
3. Debt free Calculator : For an accelerated debt payoff
If you are in debt and trying to find out how much you need to pay every month to get out of debt, here are few debt payoff financial calculators by OVLG.com to help you. These include debt to income ratio calculator, APR calculators, debt consolidation calculators and credit card payment calculators. These are simple tools where you need to put few details and the calculators would come up with your desired results.
4. Annuity Calculator: Your annuity assistant
An annuity is a kind of investment where you get a series of returns in lieu of an initial lump sum. This financial calculator by Bankrate.com could help you find out many things:
The payment that would deplete in a given number of years
The investment needed to generate a specific payment
The number of years you’ll get paid for at your specified return
5. Life Insurance Calculator: How much life insurance do you need ?
Planning the financial needs of your survivors when you are no more is one of the key and elementary steps in preparing a robust financial plan for your family. What else could be more fruitful than purchasing a life insurance policy to carry out the same? You need to have a life policy to make sure all your family’s monetary needs are met when you are not there. Moreover, sometimes, when you are unable to work due to some injury or health reasons.
Yahoo’s life insurance calculator can help figuring out how much life insurance you need to have. This financial calculator has been professionally created and has all necessary fields for funeral expenses, long-term care needs, college needs, debts, social security benefits, and many more.