Seven Savings Calculators Every Suburbanite Should Use
From retirement savings to our electric bills, we all have places to send the money we make as soon as the direct deposit comes through. To reduce these costs is to execute an effective savings plan. But how do you know if you’re doing everything you can? Easy, you can use the following seven online calculators to see if your savings strategies are the best possible:
Are you driving more than you need to? With gas prices skyrocketing, you probably can’t afford to take the scenic route to work. Use this commute cost calculator to determine how much you could save if you chose a different way to your daily destinations.
Maybe the problem isn’t your route but the vehicle you drive? Use this calculator to compare the fuel economy of virtually every car in existence against your own to see if whether or not a trade-in is in your near future.
By making sure you are withholding the right amount every month, two things occur that promote savings: you prevent yourself from giving Uncle Sam too much, and you safeguard against owing the government a hefty wad of cash come next tax season.
Are you putting enough away every month for retirement or simply throwing money into an account and hoping for the best? Your current monthly payment could net you more savings in the long run if you swapped retirement plans. Find out if this is the case by using a retirement calculator.
If you've successfully stuck to using Green Dot Mastercard prepaid debit cards your whole life, then there is a good chance that your credit card debt is minimal. However, if you are like the average American, you've probably racked up some credit card debt. Use a credit card payment calculator to determine how much money you could save over time by paying more every month.
If you or your children are gearing up for college, then student loans are almost certainly going to be a factor. It’s unfortunately very easy for new students to sign for unwise loans due to the repayment period being in the far future, so use a student loan calculator to estimate interest.
Unless you’ve already taken the time to properly fit your home for energy efficiency, then it’s possible that more than half of the energy consumed in your home annually is wasted. Use this energy savings calculator to find the specific ways you can save on household utility costs.
An effective savings strategy is an essential component of suburban living. Make sure yours is the best it can be by using the aforementioned online calculators. They’re the most useful free financial service you’re going to find online.