Why do you Need a Financial Calculator?

08 Aug 2020 5 min read
Personal Loan: Why do you Need a Financial Calculator? - Afinoz

The seemingly elusive goal of saving more money often merits the use of a financial calculator. It is highly advocated when you are handling your money. They’re simple to use and give you a good picture as to where your money should go. The complications of finding financial freedom can be aptly made far less complicated with the help of the financial calculator.

You’ll also see other keys that are unique to this calculator such as I (Interest Rate), N (number of payments), and PMT (payments) apart from the normal ones. A financial calculator also allows you to operate with negative numbers, which can be necessary when calculating a purchase that requires a down payment or if you would like to calculate the depreciating value. They’re free and they’re simple to use. All it takes a few minutes of your time to use one, and see the path you need to take. 

Save yourself the hassle of looking too hard, by trying our Financial Calculators. Use Afinoz Financial Calculator app to calculate your EMI(Equated Monthly Installment), Balance Transfer Calculation etc in an effective way. The Afinoz Calculator is the advanced Financial Tool that is useful for day to day life with all useful features that keep up to date with the latest news. Afinoz Financial Calculator app

 

Here’s a look below at the usages for which the Afinoz Financial Calculator can be put to use:

You can download the Afinoz Financial Calculator app from Google Play store for free and benefit from the tool in your day to day life.

afinoz finance calculator

Main Features of Afinoz Financial Calculator

  • The app allows you to calculate the following values by inputting all the other values of EMI, Loan Amount, Interest Rate, Period (In months and Years).
  • It provides a graphical representation of results.
  • It helps calculate EMI on a monthly basis.
  • The statistics show Principal Amount, Interest Rate, and remaining balance per month.
  • Generate statistics chart instantly.
  • Easy option to compare loans.
  • Get up to date with the latest Finance related news.
  • PPF calculator to calculate PPF maturity value, interest earned, loan against   PPF, and PPF withdrawal amount instantly.
  • Mutual Fund calculator to give you the maturity value by calculating fund returns according to your investment horizon.
  • Fixed Deposit Calculator enabling you to calculate the compound interest and the total value of your FD over time.
  • Balance transfer calculator that will enable you to determine whether taking the decision to transfer the loan to a different lender will enable you to save money or not.
  • Currency Converter that allows you to quickly convert between more than 250 different world currencies.
  • EMI calculator to calculate to monthly cash outflow.
  • Tenure Calculator to calculate the period required for the complete repayment calculator.
  • Recurring Deposit Calculator to calculate the interest earned by investing in Fixed Deposit for a fixed tenure.
  • Loan amount calculator to calculate the original loan amount given by the bank on which the interest will be calculated.

Download the Afinoz Financial Calculator app and get all your finance related complications solved within minutes.

Rules of using a Financial Calculator

What you enter into a calculator will give you the “real picture” or a mere illusion.

  • Be accurate – Strive for accuracy when keying the numbers. Don’t guess the number. You’ll set yourself up for the wrong type of plan, which could stifle your money goals.
  • Be truthful – Inaccurate inflation of your income won’t let the purpose solve. Inputting the right numbers will give you a suitable payment amount, helping you reach your goal faster.
  • Get your numbers checked – Financial calculators can’t fully replace the services of a professional banker, who may clue you into other opportunities to reach a financial goal. Have your advisor check the numbers while using a financial tool if you need to reassure yourself. 

Advantages of using a Financial Calculator

There is no shame in looking for help when dealing with financial issues. A lot of investment decisions are complicated. The financial calculator will quickly reduce long complex complications for finance-related questions. Its use can be crucial to the stability of your budget. 

  • Taking care of debt – A debt counsellor can guide you to manage your debt issues. But if you’re not able to hire one, using references and tools such as a financial calculator can help. It can show you what it will take to escape the shackles of debt, in the absence of a real person. It can give you an estimate on how long it will take you to eliminate your debt based on how much you’re willing to pay monthly.
  • Saving money – The financial calculator helps to put your savings goals into perspective. It will point out how much you’ll have to put away and for long you will need to do so to reach your target.
  • Dealing with uninformed emergencies – Setting up an emergency fund is overlooked by many of us. It has caused many to fall from stability to depression, as they were not prepared for tough times. The financial calculator is a good tool to help you determine how much you can set aside for the emergency funds.
  • Buying a home or a car – Understanding how much you can responsibly spend on a car or home is very important. A calculator is an excellent way to achieve in knowing exactly how much you can realistically spend and remain financially stable. 
  • Putting aside your money as investments – This free tool will help you understand how much money you need to set aside or invest in schemes. This investment might turn out to be useful to safeguard yourself from unexpected emergencies or unforeseen events. Knowing the true cost of investments and the amount of money you need to spend on these investments can make a lot of difference.

Simply key in the data in the financial calculator app and crunch numbers to plan your goals ahead. Download Afinoz Financial Calculator App from Google Play Store for free.

Download Now

If you’re not at that point where working with a credit counsellor is possible in near sight, using tools such as financial calculators can help. It is a good way to visualize your goal so that your efforts seem real. The moment you spend filling the fields of these calculators, it will give you a target so that your financial freedom turns into a real goal. The tool will prove to be a smart way to handle monetary issues.

 

financial calculator
Afinoz Financial Calculator app
Balance Transfer Calculator
Check your Eligibility
To check how much loan you can get.
Verify

Didn't receive otp? Resend


blognews
Helpline Number
+91-11-23978046
Covid 19
Global
0
Covid 19
India
0