Calculators for budgeting, dealing with debt, credit cards and loans.
20 power packed financial calculators that will help you with your budget, deal with debt, and manage your credit cards and loans. Try my favorite, the Accelerated Debt Payoff Calculator (aka Debt Snowball) and see how quickly you can payoff those bills.
What is your favorite calculator?
I love the accelerated debt payoff calculator, which will show you how much time and money you could save by paying off your debts using the "rollover" method (a.k.a debt snowball). Using the rollover method, as each smaller debt is paid off, the freed-up payment amount is then applied to the next larger debt, and so on until all debts are paid off. The rollover method can save you a ton of money in interest charges, and get you debt free in a very short period of time!
How can calculators help me determine how much home I can shop for?
Check out the "Recommended Percents" calculator. Fill in your monthly bring-home income to see what your recommended home payment would be. Use the Low end value! These are only recommendations. Based on outstanding bills you have, you can see whether this monthly payment amount could fit into your budget, along with all the other new monthly expenses you previously prepared for. As an example, a person that brings home $3,000 per month would typically be able to afford a home of about $750 per month. So, how much home is that you ask? You can use the "Missing Loan Term" calculator to quickly find out! Using this calculator, leave the Principle amount blank (that's what you want to know), fill in the current interest rate (check a bank website for average rates), fill in the # of payments remaining (180 for 15 year loan, or 360 for 30 year loan), an enter your recommended monthly payment. When I do that for the $750 payment, for 15 years, at 4% interest, the calculator tells me I can afford a $101,394.11 mortgage. Now, divide this mortgage total by 0.8 to see the total price of home you should be looking for, assuming you'll do a 20% down payment. Divide by 0.9 for a 10% down payment. For my 20% down payment, I can go shopping for a home of about $126,742, which means my down payment needed is going to be a little over $25,000.
What other calulators do you have?
For Budgeting: Account Reconciliation, Recommended Percents, Irregular Payments, Net Worth
For Dealing with Debt: Accelerated Debt Payoff, Debt Consolidation, Debt Payoff Goal, Debt Ratio
For Credit Cards: Credit Cards Comparison, Minimum Payment Interest, Principle/Interest, Fixed vs Minimum
For Loans: Bi-Weekly vs Monthly, Loan Comparision, Loan Amortization, Missing Loan Term, Simple Loan, Mortgage Payoff Goal, Mortgage Refinance, Rent vs Buy
©2019 Budget Ninjas, LLC. All rights reserved.