FREE CALCULATORS TO DOWNLOAD, SAVE, OR EMAIL TO A FRIEND.
These calculators are entirely free to you, and can be provided, given or exchanged to anyone free of charge, but they may not sold. They are intended as a free tool for borrowers and prospective homebuyers to use. We have a suite of 7 calculators plus a "cheat sheet", that will be of interest to anyone wanting to calculate loan repayments, compare the long term benefits of two different loan scenarios, calculate mortgage minimisation benefits, draw up a weekly budget, or prepare a cash flow forecast to help with budgeting for the future. These calculators have been compiled in microsoft excel as it is a platform used by the majority of home and office computers. The programs can be downloaded onto your computer for your personal or office use. You will need a recent version of microsoft excel to run these programs.
NOTE: No liability is accepted for any inaccuracy of these calculators, and you should always check the calculations with your lender. Also note that it is normal for slight differences in results due to "rounding off".
Just load in the loan amount, the term of the loan, and the interest rate, and this calculator will work out the repayments that you wil need to meet. Repayments are calculated monthly, fortnightly, weekly, and monthly principal and interest, as well as interest only. The loan term can be in years and months, and a honeymoon period and rate can be input.
Also estimates when you can sell at a profit after allowing for agents commision and exit costs. Note these are estimates only and it is no substitute for a financial advisers professional advice, but it is interesting and can illustrate the principal of wealth building over time by owning property..
This "Loan Comparison Calculator" is very similar to "Repayment Calculator" above, but you can compare two loan scenarios to help you choose the one that will be the best priced for you over the term of the loan. Note that if you sell your house before the loan term has been completed, then all comparison calculations will alter.
If you have a mortgage you really should check this "mortgage minimisation calculator" out. Input your current loan details such as the balance owing, interest rate, and current repayments, and this will tell you the remaining loan term. Then go one step further, and put a small payment increase on either a weekly, fortnightly, or monthly basis, and you will see in both dollars and time what you will save. Most people are amazed at what an increase of $25 per week will make to the amount of interest that you will pay to your lender over the loan term. This is not a secret, but you really do need to know this so that you can better manage your finances, What you do with your money now will significantly affect your latter years. For example If you smoke, try putting your cigarette money off your loan and see what your habit really costs you. You may get a shock. Whatever your circumstances, we urge you to always pay extra off your loan to get it repaid as soon as possible.
With this calculator you can see when your loan will be repaid, or what you will owe at the end of each year up to 30 years into the future. Use this to help you tailor your finances to suit your long term plan. You do have a long term plan don't you? If not start making a life plan now. We estimate that when you retire you will need to own your own home plus have an income earing nest egg that gives you about 80% of your working income. If your working salary is $50,000 pa then you need in income of about $40,000 to maintain a comfortable retirement. That could be provided by commercial property worth $550,000 that is debt free, or shares valued at $700,000 in blue chip income earning companies. (Note that this is a very rough guide and we recommend that you seek guidance from a qualified financial planner. Amounts are calculated as at 2008 and need to be increased by 5% for every year after that to allow for modest inflation) Right now you should work out how much you need to increase your home payments by to clear that debt, and then save to give you the money required for retirement.
If you have trouble making ends meet, then a weekly budget would help you allocate and manage your income. We aren't all born financial wizards, so use tools like this to make managing your money easier. You need to be able to see where your money is going, and put aside some money for rainyday expenses. Use this calculator in conjunction with our cash flow forecast for the best results. (See below)
Many expenses are irregular. That is they come annually, half yearly, quarterly, or even at random intervals. If you need to cover school fees, uniforms, annual vehicle registrations, insurance premiums, council rates, drivers licence renewals, holidays, birthdays, christmas expenses, etc, etc. etc. Then you need to foresee when these expenses will occur, and ensure that you have savings to cover those expenses. If you are having trouble making ends meet, then you need to take extra care with your finances. Honestly this applies to almost everyone at some point in their life. We all need to know where our money is going, and when we need to meet necessary expenses. You will find budgeting can successfully change the way you manage your finances, and if used corrrectly will significantly reduce the financial stress in your life.
Not a calculator, but this printout will help you select the right house for you, and is used correctly it may help you get the best price for your dream house.
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