Here’s a list of tools and calculators you can make use to empower your journey towards financial freedom.
Disclaimer: These tools are for informational purposes only and don’t constitute financial advice.
Financial Freedom Calculator (Early Retirement Calculator): Estimate how much to save and invest to achieve financial independence or early retirement.
- NerdWallet: https://www.nerdwallet.com/calculator/retirement-calculator
- Networthify: https://networthify.com/calculator/earlyretirement
Net Worth Calculator: Track overall financial health.
- NerdWallet: Net Worth Defined: What Is My Net Worth? – NerdWallet
- Omnicalculator.com: Net Worth Calculator (omnicalculator.com)
- Kiplinger.com: Net Worth Calculator | Kiplinger
- Ramseysolutions.com: Net Worth Calculator: What is My Net Worth? – Ramsey (ramseysolutions.com)
- GoodCalculators.com: Net Worth Calculator | Good Calculators
- AARP: https://www.aarp.org/money/investing/net_worth_calculator
- Simplifi by Quicken (Paid): https://www.quicken.com/
Budgeting Calculator: Allows you to track your income and expenses.
- The Balance Money: https://www.thebalancemoney.com/budgeting-calculator-5120904
- Calculator.net: https://www.calculator.net/budget-calculator.html
- AARP: Financial Calculator: Home Budget Calculator (aarp.org)
- Quicken (Paid): https://www.quicken.com/
- You Need A Budget (YNAB): https://www.ynab.com/
- Personal Capital: https://www.empower.com/empower-personal-wealth-transition
Interest Calculator: This Compound Interest Calculator can help determine the compound interest accumulation and final balances on both fixed principal amounts and additional periodic contributions.
- Calculator.net (Interest): Interest Calculator
- Calculator.net (Compound Interest): Compound Interest Calculator
- Calculator.net (Interest rate): https://www.calculator.net/interest-rate-calculator.html
Mortgage, Rent, Auto Loan Calculator: Estimate monthly mortgage/loan payments.
- Calculator.net (Mortgage): Mortgage Calculator
- Calculator.net (Rent): Rent Calculator
- Calculator.net (Auto Loan): Auto Loan Calculator
- Bankrate: https://www.bankrate.com/mortgages/calculators/
- NerdWallet: https://www.nerdwallet.com/mortgages/mortgage-calculator
- Zillow: https://www.zillow.com/mortgage-calculator/
Debt-to-Income (DTI) Ratio Calculator: Debt-to-income ratio (DTI) is the ratio of total debt payments divided by gross income (before tax) expressed as a percentage, usually on either a monthly or annual basis. As a quick example, if someone’s monthly income is $1,000 and they spend $480 on debt each month, their DTI ratio is 48%. If they had no debt, their ratio is 0%.
- Calculator.net: Debt-to-Income (DTI) Ratio Calculator
Debt Payoff Calculator: This helps users develop strategies to pay off debt faster.
- Calculator.net: https://www.calculator.net/debt-payoff-calculator.html
- NerdWallet: https://www.nerdwallet.com/h/category/paying-off-debt
- Bankrate: https://www.bankrate.com/debt-management/calculators/
- The Balance: https://www.ramseysolutions.com/debt/debt-calculator
Credit Card Calculator: Helps find the time it will take to pay off a balance or the amount necessary to pay it off within a certain time frame.
- Calculator.net (for One Card): Credit Card Calculator
- Calculator.net (for Multiple Cards): Credit Cards Payoff Calculator
College Cost, Student Loan Calculator:
- Calculator.net (College Cost): College Cost Calculator
- Calculator.net (Student Loan): https://www.calculator.net/student-loan-calculator.html
Investment Calculator: This provides an estimate of future investment returns. It can also be used to calculate a specific parameter for an investment plan.
- Calculator.net (Investment): Investment Calculator
- Vanguard: https://investor.vanguard.com/tools-calculators/investment-income-calculator
- Fidelity Investments: https://www.fidelity.com/calculators-tools/overview
- Charles Schwab: https://www.schwab.com/retirement-planning-tools/retirement-calculator
Income Tax Calculator: Estimates the refund or potential owed amount on a federal tax return. It is mainly intended for residents of the U.S. and is based on the tax brackets of 2023 and 2024
- Calculator.net: Income Tax Calculator
IRA Calculator:
- Calculator.net (401K Calculator): 401K Calculator
- Calculator.net (IRA Calculator): IRA Calculator
- Calculator.net (Roth IRA Calculator): Roth IRA Calculator