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December 4th, 2015 by


ComputerNerd 062513 - The Many Benefits Of Financial Calculators Online calculators are a great way to keep track of different aspects of your personal finances, as well as help you figure out and predict how much money you would need for a particular venture before  you take on the financial responsibility.

Take a look at the three financial calculators you can use;

Car insurance calculator

The first step in determining how much you should be paying for your car insurance is to determine how much your car is worth at this present moment. If you are purchasing a brand new car, this will make this process a lot easier. But if, for example, you bought your Ford Figo 1.4 Ambiente in 2011 and are unsure of the market value four years later, it is important to utilise online car insurance calculators to make sure the quotes you have received from insurance providers are in line with your car’s current book value. Santam has an online car value calculator that indicates if you are currently undervaluing or overvaluing your car.

Once you determine the value of your car, car insurance calculators are able to show you what your car insurance premiums are expected to average out to each month.

Debt consolidation calculator

Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others. This commonly refers to a personal finance process of individuals addressing high consumer debt.

A debt consolidation lets you add in all current debt, and indicates how long it will take to pay it back to a debt consolidator with interest rates as variables.

Home loan or bond calculator

Before you make the final decision to purchase a property, you will need to know of the long term payments and if you can afford it.

Interest is calculated at either a fixed rate or variable rate, with benefits and stringencies to both. A home loan calculator will help you to assess future monthly repayments as well the costs you need to be aware of when financing a new home. A standard loan period is usually around 240 months or 20 years.

Whether you are buying a new home or need cash fast, online financial calculators can give you the fast answers you need in a crisis and help you better prepare for your financial future.