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4 Online Calculators

Online Calculators
“Yellow Calculator” by nuttakit on freedigitalphotos.net

There are a bunch of online financial calculators that I use to look up things such as interest payments, APY, mortgage ammortization, and much more financial voodoo. The site that I am most dependent on is Bankrate.com because they have never let me down. I have looked up CD rates on there and I have also use many of their calculators to help me make financial decisions. The following are a few that I have found extremely useful.

Simple Retirement Calculator

This calculator asks you a few simple questions like how much you would like to have saved by retirement, how many years you have until retirement, and how much have you saved up so far for retirement. It then makes a few assumptions, explains them to you, and calculates how much you would need to save every year or per month to reach your goal under those assumptions. This is a good baseline to go by, but you should consult with a professional financial advisor before making any decisions.

CD Rate Calculator

This calculator shows you the resulting APY and earnings after a period of time that you can set. I’ve used this calculator many times because the APR and resulting APY differ due to how CDs are compounded.

Compound Interest Calculator

This calculator is a must-have in everyone’s toolbox. You hear financial professionals talk about the power of compound interest all the time. This calculator will show you the results of compound interest over a period of time that you can set. You can also include additional contributions. I used to set up a spreadsheet to do this before I found the calculator.

Lunch Savings Calculator

I bet you are surprised to see this calculator listed! It helps you quickly figure out how much you could save if you bagged your own lunch instead of eating out everyday. I would suggest clearing out the “Expected Rate of Return” box for a straight up calculation.

Bottom Line

I hope these calculators help you out as much as they have helped me.

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