Everyone has made a financial mistake
that has ended up with big money loss. But with all these
technologies available today, it is unreasonable to make such mistake
twice. The best way to avoid financial troubles is to plan your
finances. Planning your finances can be really difficult, whether you
are considering to buy a new car, home or appliance, or calculating
your mortgage payment. To make this process easier, you can use
financial
calculators.
Calculators used for assisting in calculating finances are of big
help to those who are willing to plan their financial future.
Usually, financial calculators are widely used in commerce and
business. To choose the most suitable financial calculator for your
task, you need to be familiar with these financial calculators.
Auto Loan Calculator – For
calculating monthly payments for a car you want to buy, use an auto
loan calculator. This is a great tool that can help you estimate if
you can afford a new car. Also, the auto loan calculator displays the
adjusted payment rates for those who plan to trade in a car (or
anything of value) or plan to make a down payment. To calculate
monthly payments for a car, you will need these variables: vehicle
price, trade-in value, down payment amount, sales tax, interest rate
and term in months.
Retirement Calculator – Just
as their name implies, retirement calculators are used to calculate
how much money do people need to save for retirement years. Using
your current age and your yearly income, these financial calculators
will forecast your retirement options. Some
retirement calculators can also calculate how fast your savings will
grow, how much money you will need to retire, when you can retire and
if you will become a millionaire. With the help of these calculators,
you can well prepare your finances for your retirement years and also
prepare your savings to fund your retirement plans, whether it's
buying your favorite sports car or conquering the world.
Amortization Calculator – One
of the most commonly used financial calculators is the amortization
calculator. It is the perfect tool for anyone dealing with mortgages
to make the calculations of large payments quickly and conveniently.
With the amortization calculator, you can plan how the structure of
your mortgage will affect your interest paid. This calculator uses
your current loan amount, terms in years of your mortgage and
interest rate (in percentage) to make an accurate calculation of how
much money you will save on interest over your loan's life.
