Free Online Financial Calculators

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With all of the enhanced mobile applications on the market today, it can be easy to overlook the basics. When you need to decide on important personal finance matters, you could easily check on your current account balances and spending patterns with Mint.com or its iPhone or Android app. But there are times when all you really need is an online financial calculator to crunch the numbers.

Financial calculators can help you with a variety of money goals, from crafting your first budget to determining the down payment necessary to secure your dream home. Mint offers users tons of free financial calculators available for both Android and iPhone. Below, we’ve assembled a list of our intuitive, user-friendly online financial calculators that can do the hard math for you, so you can focus on taking actionable steps to accomplish your money goals. Use the links below to navigate directly to the calculator you’d like to learn more about or simply read through for a comprehensive explanation of all Mint’s available online financial calculators.

Budget Calculator

Although budgeting isn’t always exciting at the outset, you might be surprised by how much more motivated and empowered you feel when you’re managing your money responsibly and developing better financial literacy. A budget calculator can help you prioritize your finances and weave your money goals into your daily life – instead of only thinking about your cash flow when an unexpected bill hits your inbox or when the holidays sneak up on you yet again.

Mint’s free budgeting calculator can deliver a more comprehensive understanding of your monthly finances from a bird’s eye view – plus, you’ll receive personalized insights into where your money is actually going. Using the online financial calculator app by Mint is easy, you just need to enter your monthly income, monthly expenses, and monthly savings contributions.

At this point, you can finetune your budget allocations so that your budget accurately reflects your lifestyle and financial objectives. If you feel like you need help sticking to your budget after creating one, consumerfinance.gov has tips that can encourage you to adhere to your spending and savings parameters, such as analyzing your spending patterns and developing a support system of like-minded friends and family.

Although setting measurable money goals is critical, it’s also important to be reasonable and strategic about those goals. For example, if you have a large balance sitting on various credit cards, it makes more sense to set aside money to pay down that debt instead of allocating all of your extra money toward investments. Why? Because interest rate fees can still take a serious bite out of whatever returns your investments make and a larger balance on your credit cards can drag down your credit score. 

Your budget should balance both your short-term and long-term financial needs, with the flexibility to change given new events like the birth of a child or sudden medical expense. Mint’s budgeting tool is one of the best financial calculator apps available for users who need their spending and savings broken down into hard numbers.

50/30/20 Calculator

The 50/30/20 budgeting method is a way to divide up your net income based on needs, wants, and savings plus debt repayment. It’s a great way to portion out your earnings into “buckets” and gives every dollar you have a job to do. Here’s a breakdown of what the 50/30/20 method looks like:

  • 50%: Half of your net monthly earnings should be channeled toward the essentials like groceries, bills, and rent or mortgage payments. This is the largest portion of your budget and covers expenses you can’t really avoid.
  • 30%: About a third of your net income can go into your “wants” category. This is your discretionary income that can be used for eating out, monthly entertainment or music subscriptions, clothing, and entertainment. 
  • 20%: The final part of your budget, the last 20%, should be tailored to your unique financial circumstances. For some, a portion of money might be used to pay down a loan or credit card balance. It’s also a good idea to park some or all of this money into your savings such as your emergency fund or your retirement account.

Use Mint’s 50/30/20 budget calculator to learn how closely your spending and saving patterns line up with this budgeting method and where you can improve.

Investment Calculator

Another online financial calculator app you may need or want to use is Mint’s investment calculator. This helpful tool monitors your investment income in a way that’s easy to understand. With this calculator, you can generate new investment goals, forecast growth, and even look for new ways to boost your portfolio’s returns.

Mint’s investment calculator works with a wide variety of investment types like high-yield savings accounts, retirement portfolios, stocks, bonds, and mutual funds. You can also use this online financial calculator app to make specific investment goals. For example, you can calculate how much more valuable your investment would become if you contributed to it on a more frequent basis. Or, you can determine what happens if you put money into a different investment with a higher rate of return. Investigating different investment scenarios before you actually put money anywhere is a great way to decide what kind of investment is right for you and your financial situation.

Investor.gov is another resource you may want to leverage when you’re considering different investment goals. For example, you can estimate your Social Security benefits during retirement or calculate the ballpark amount you need to live comfortably during your golden years.

Loan Calculator 

Loans are a great way to finance important life milestones like going to college, buying a home, or investing in a new car. With that said, it’s essential to understand the true cost of a loan and your expected monthly payments – that’s where Mint comes in.

Mint’s loan calculator gives you a better idea of what you can expect during the life of a loan. This online financial calculator can assist you in determining things like:

  • The remainder of your loan balance
  • Your monthly loan payments 
  • The impact of different interest rates
  • The interest fees you’ll pay over the course of the loan
  • The total cost of your loan
  • The amount of time to pay off your loan
  • How large or small loan amounts impact interest rates and monthly payments

Whether you plan on taking out a student loan for college or you’re shopping for a mortgage, comprehending the financial underpinnings of your loan should be a priority. Mint’s loan calculator allows users to better comprehend a loan’s impact on their overall cash flow and financial situation.

To use this financial calculator app, you’ll need to enter your loan amount, type of loan, loan term, and interest rate. In return, you’ll receive your minimum monthly payment, the total amount paid over the life of the loan, and the total interest fees. You can also see what happens to those numbers if you make extra payments in addition to your scheduled monthly payments.

Home Affordability Calculator

Buying a home is incredibly exciting and it’s also likely one of the biggest purchases you’ll make during your lifetime. The home-buying process can still be very intimidating despite all the excitement, especially when it comes to understanding how much money you need to afford a home. Closing costs, appraisal fees, application fees, loan origination fees, private mortgage insurance – these are just a few of the potential expenses you’ll need to be aware of if you want to purchase a home.

Luckily, homebuyers can take advantage of Mint’s home affordability calculator. This online financial calculator helps you determine how much house you can afford based on the factors below:

  • Your pre-tax income 
  • Monthly debt payments
  • Credit scores
  • Down payment amount
  • Insurance rate
  • Veteran status
  • Homeowners’ insurance
  • HOA fees
  • Property tax
  • Private mortgage insurance (PMI)

Using these variables, the calculator will give you a realistic breakdown of what you can afford, the cost of your mortgage over the life of the loan, and the monthly costs you’ll need to consider as a new homeowner. 

Managing Your Money, One Calculator at a Time

Budgeting and big financial decisions can be intimidating to figure out on your own. But when you leverage the convenience of Mint’s free online financial calculator apps, you can simplify complex financial decisions. Mint can help you make the most of your money, whether you’re looking to set up an emergency fund or you’re just trying to pay off the last of your credit card debt. Regardless of your money goals, Mint offers free financial calculators that can help you plan for a brighter financial future. 

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