Wednesday, January 26, 2022

Online Calculators: Valuable Financial Decision-Making Tools

Online Calculators: Valuable Financial Decision-Making Tools
By Debra L. Karplus

Financial decisions can be mind-boggling at times. Whether you are shopping for a mortgage or auto loan with competitive interest rates and affordable monthly payments, checking out insurance quotes with reasonable premiums, trying to select the credit card that works best for your family, putting together a household budget with optimal spending power, or operating a small, hopefully profitable, business, it’s often tough to make the right choices. But online calculators make these options so much easier to sort through, as you can create different scenarios simply by entering new figures.

Calculating borrowing options just became easier.

Whether you are moving to a new residence or looking to finance or refinance a home, take out a home equity loan or finance a new or used car, online calculators, such as the ones on The Dollar Stretcher website, transforms this seemingly intimidating task this into a simple, sometimes fun, activity. Some tools are even specific to the state where you live and will obtain your loan.

Selecting the best credit card and controlling debt are just a click away using online calculators.

Everyone’s credit card usage and needs vary. Whether you desire low interest rates, no annual fee, cash back rebates, airline mileage, gasoline discounts, merchandise rewards, or balance transfers, you can type in the variables and find a credit card that best suits your lifestyle and spending habits. It’s that easy!

Growing your nest egg can be planned sensibly with calculators online.

You are trying to become move knowledgeable at investing and saving. Maybe you are shopping for certificates of deposit (CDs) in your area so that you can have fixed rate returns within a specific time frame. Or possibly someone in your family is college-bound and you are borrowing money for a student loan or researching 529 college savings plans for you child or grandchild’s education. Or possibly you are doing retirement planning for yourself and your spouse. These tools, too, are available and easy to use.

Operating the financial aspects of your small business is much more manageable.
Your business certified public accountant (CPA) or consultant might as well be speaking Chinese when discussing financial ratios, margins and percentages for your small business. But you can become much savvier with these terms by using one of the many small business online calculators. Current ratios, quick ratios, debt to assets, return on assets, gross profit margin and operating profit percent are all easily calculated and manipulated using different scenarios, with these simple online tools.

Number-crunching for your home of small business can be intimidating at times. But, it’s not worth stressing over it. Get online and play with any of the helpful online calculators and give yourself some peace of mind.

This article by Debra Karplus first appeared on Debra Karplus, freelance writer and was distributed by the Personal Finance Syndication Network.

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