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Online Calculators Can Help Increase Your Savings

By Alex Summers

We’re all interested in saving as much money as possible. While the best online banks will help you plan properly for retirement or future college tuition expenses through their own services, several other online references will help you find better ways to save your money. A few of those are online calculators including:

Credit Card Repayment Calculator

Many of us a have a few credit cards, and if you are just starting out in your young adult life, there is a good chance that you may have racked up some credit card debt. While we all need a credit card or two to build and maintain our credit, it is very easy for our credit card charges to get out of hand if remained unchecked.

While paying off your balance each month is ideal, if you have a bit of credit card debt and are unable to pay off your balances immediately, figure out the best repayment plan possible so that you minimize the amount of interest that you will pay in the end.  If you are already behind…  picking a plan that will help you pay off your debt as quickly as possible will help you save a great deal of money over

 

paying the monthly minimum.

Fuel Economy Finder

If you are in the market for a new car, use the fuel economy finder to determine which car’s fuel consumption will best fit your budget. While we would all love to purchase a hybrid that gets 40 miles to the gallon, they aren’t always within budget or able to fit our size needs.

However, no one wants to purchase a car that seems to be efficient only to find out it is a gas guzzler. By using the fuel economy finder, you can look at cars that will fit your needs while also determining which one will be most budget friendly – ultimately saving your more money at the end of the year.

Home Energy Saving Calculator

Our homes are often one of our biggest expenses, both in terms of our mortgage and in our utility expenses. To help you save money on these monthly expenses, consider using a home every savings calculator. This tool will help you determine how efficient your home is which will help you make any updates you need to save on utilities. If you are able to make your home more efficient, you may even qualify for a few tax rebates or even deductions on your homeowners insurance which can ultimately lower your annual expenses.

Knowing where to really achieve great savings without sacrificing your enjoyment isn’t always easy.

By using the aforementioned calculators, you can figure out how to achieve optimum savings – even in the places you generally know how to minimize.  You may find that the $10 you currently save on gas could turn in to a $50 savings if you pick the right vehicle, or figure out that your door isn’t as weather proof as you thought, can allow you to save a few extra bucks on your utilities by putting in weather stripping. So if you are looking at ways to increase your savings, use all the online resources available to you. You may be surprised to find just how much you really can save.

Some other calculators you might find helpful are:

Mortgage Payoff Calculator

Paying Off your mortgage early will literally save you thousands upon thousands of dollars in interest payments over the life of your loan. It always amazes me how just a few extra dollars a month in payments can drastically reduce how much interest you pay over the life of your loan. This calculator will help you see how much you can save.

 Cost of Living Calculator –

Compare the Cost of living in two different U.S cities.

Bi-Weekly Mortgage Calculator

Save thousands of dollars with this painless method. Bi-Weekly mortgage payments drastically reduce the interest paid and the time to pay off your mortgage!

Millionaire Calculator

What will it take for you to save One Million Dollars? This Millionaire Calculator helps you find out.

Compound Interest Calculator

Compound Interest has the ability to multiply money almost magically. There is a story that Einstein was once asked, “What is the most powerful force in the universe?”  his immediate  response was “Compound Interest”.

Retirement Planning Calculator

See how compound inflation will affect your retirement plans.

Rent vs. Own Calculator

Should you rent or should you buy your own home? For many years this has been an easy decision, it was everyone’s dream to be able to buy a house and with low interest rates more and more people were able to afford it. Plus rapid appreciation in home values made owning almost a “no-brainer”. But with home prices falling it is becoming more difficult to justify a home purchase. This calculator will take the guess work out of the decision and help you decide which is better financially.

More Financial Calculators

Inflation Calculator #1

Calculate the cumulative inflation (in percent) ranging from 1913- Present to see how much prices have changed.

Inflation Calculator #2

Calculate the difference in buying power in Dollars between two years.

How Much Would It Cost Calculator

Assuming an estimated rate of inflation how much would an item cost in the Future?

Calculate Your Net Worth

Enter your real estate, investments, liabilities etc and it will tell you your net worth.

Lifetime Earnings Calculator

Enter your age, retirement age, current income and estimated salary increase and this calculator will tell you how much more you will earn until retirement.

Savings Goal Calculator

How much would you have to save every month to reach your savings goal taking into consideration  the inflation rate and your rate of return?

 

 

 

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