I know exactly what you were thinking when you woke up this morning. Not: “Should I buy BP shares?” Not: “Will doing media studies like 2,500 other young people this year lead to future financial success?”
But rather: “If only there were two more personal finance calculators in the world!”
Well, I’m here to tell you that your dreams have come true.
I’ve just added a new Tools link in the top right of every page, which links to Monevator‘s super-dooper new personal finance calculator collection:
- Compound interest calculator – See how you can become as rich as Warren Buffett (provided you live to 142 and discount inflation).
- Mortgage repayment calculator – Work out what your mortgage debt will cost you, and see how spending a little more each month will save you money.
Not only can you now do these calculations without leaving your third favourite personal finance blog, but you can also see the results in a state-of-the-art graph!
I hope you find these calculators useful. Big thanks to my friend P. who coded them for free, possibly because he’s really nice like that, but also because I know where he put the bodies.
6 Comments
Ah good old compound interest and amortisation. Compound interest is by far the most amazing phenomena; provided you live long enough (or start early enough) to make it work for you.
Haha. Your interest calculator’s timeless… I think I’m gonna bookmark it. XD
I wonder! Have you ever thought about doing a Dividend Re Investment Program Calculator?
Thanks for the feedback guys. I will consider a DRIP calculator in future Aury, but to be honest I just wanted to cover the basics instead of linking out all the time. They take a fair bit of effort to create it seems.
Compounding interest is a great tool for financial independence. It can also destroy you in case of compounding interest from debt.
Good tools.
Thank you.
@DTB – Very true, and thanks for your comments. (By the way, your trackback to the carnival went to a weird RSS comments page? A bug?)
I dream of finding a Portfolio tool that tells me how much I have earned in dividends since I bought each share or bond. All of my online platforms (HL, Selftrade & Stocktrade) tell me precisely how much I have gained or lost since purchase but none tell me how much dividend (or coupon) has come my way over the same period. At the moment I have to do this myself in a spreadsheet, but I find it a tiresome chore.
Does anyone know of one?