Financial Calculators Help you Plan For Your Future


Financial planners have access to specialized tools that are not always widely available to the average person. Honestly, these tools should be a little easier to get a hold of. Then again, special tools like this often also require special knowledge that takes years of study and experience to acquire.

The good news is that financial planners have not only the tools but also the knowledge and experience to make them work best for you. And among these tools, the financial calculator is one of the first they will use to help determine the potential benefits of a particular investment over a significant amount of time.

There are many types of financial calculators and each one is designed to help you get a better idea of what you can expect from your finances, depending on the financial product you are investigating. For example, you could use a financial calculator to help you analyze a variety of loans:

  • auto
  • home equity
  • mortgage rates

As well as various investment accounts:


tax payments

savings accounts

personal finance

And other financial products:


debt management

small business management

credit cards


Auto loan calculators are among the more common type of financial calculator in use today. These tools will take into account the value of the vehicle, of course, and look at the potential interest rate over time so you can somewhat predict what you might pay every month. Obviously, this calculator can help you establish both your monthly payment as well as an appropriate down payment you can expect to pay.


When you use a savings calculator, you are looking at the potential interest yield on a capital investment within a savings account. The goal, though, is not just to consider one specific long-term goal, but also the potential interest rates that might be associated with emergencies and other contingencies.


Due to the popularity of credit cards today, credit card calculators are often utilized. Regardless of whether you are new to credit or have already established your line of credit a credit card calculator can help you to determine how much credit you can afford according to your credit score and your income. These calculators also consider how long it is going to take to pay off your debt or whether it is a good idea to transfer your existing balance to a new product.


College can be the most important decision of your life. It can also be the most expensive and the most stressful. As a parent, it is never too early to begin saving for your child’s college education—even if you have not had any kids yet. A college loan calculator will analyze the potential savings you should invest in order to pay for college, whether it be today or in the future.


After college, the next loan you will probably need is one to buy a home. This is known as a mortgage and a mortgage calculator will help you to better determine what your income says you can afford to buy. This calculator weighs things like home value, personal credit data, income, and more.


Once you own a home, though, there may come a time when you will want to leverage its value to get more liquidity. This is where you would use a home equity calculator. These tools take into the account the full value of the home, as well as how much you still owe and, your income to determine a final potential value.