Canadian Financial Calculators
For Loans, Mortgages, Budgeting, Saving, and Retirement Planning
Below are three sections of financial calculators. The first section has debt and loan calculators to help with paying down credit cards, loans, and mortgages. The second section contains our budget calculators for both households and students. The final section contains an assortment of savings, education, and retirement calculators.
Loan Calculators
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Consolidating your debt is only half of the battle. You still need a plan to get your debt paid in full. This calculator can show you how to accelerate your debt payoff. The process is simple, just apply a portion of your consolidated loan’s monthly payment savings to the consolidated loan’s balance. You can save hundreds, even thousands in interest and shave years off of your loan!
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Enter your desired payment and number of payments, select the Weekly, Bi-weekly or Monthly in the “Payments are made” field – and let us calculate your loan amount. Or, enter in the loan amount and we will calculate your payment. You can then examine your principal balances by payment, total of all payments made, and total interest paid. Press the “View Report” button to see a payment schedule.
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Use this calculator to help you determine your auto loan payment or your auto purchase price. After you have entered your current information, use the graph options to see how different loan terms or down payments can impact your payment. You can also examine your complete amortization schedule by clicking on the “View Report” button.
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The first steps in buying a house are ensuring you can afford to pay at least 5% of the purchase price of the home as a down payment and determining your budget. This calculator steps you through the process of finding out how much you can borrow. Fill in the entry fields and click on the payment schedule button to see a complete amortization schedule of your mortgage payments.
Budgeting Calculators
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Intelligent Personal & Household Budget Calculator (Excel Spreadsheet)
Based on studying thousands of people’s budgets, we’ve created guidelines for all budgeting expense categories, and we’ve built this information into a new budget calculator that guides you through the budgeting process, suggests how much to spend on each category, warns you if you’re spending too much or too little, and offers suggestions to make your budget more successful.
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Intelligent Student Budget Calculator (Excel Spreadsheet)
This free, interactive, Excel student budgeting worksheet template makes planning your spending way easier by gently guiding you through the process of creating a budget. Along the way, it provides you with expert tips and advice to help you avoid common pitfalls and build a successful budget. When you’re finished, you can ask it to review your budget and look for opportunities to save money or tighten things up.
Savings & Retirement Calculators
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Consistent investments over a number of years can be an effective strategy to accumulate wealth. Even small additions to your savings add up over time. This calculator demonstrates how to put this savings strategy to work for you!
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Saving for your children’s education requires a long-term plan. And, like saving for retirement, the earlier you start your plan the better. Use this calculator to help develop or fine tune your education savings plan.
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What could it take to save one million dollars? This financial calculator helps you find out. Enter in your current savings plan and view graphically your financial results for each year until you retire! A complete report tells you when you could hit your Cool Million – and what you can do to reach this milestone on target!
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How Much is Enough to Fund My Retirement?
Use this calculator to help you determine how long your investment savings might last. Enter your current savings plan in the contributions section of the calculator, and your withdrawal needs in the withdrawal section. This calculator will then plot your investment savings total year-by-year. You can then determine how much your investment savings could be worth, and how long it might last.
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Tax Free Savings Account (TFSA) Comparison (Canadian)
How taxes are applied to an investment can make an incredible difference. Starting in 2009 all Canadians 18 and older have a new option to save where all earnings and withdrawals are tax free. You are able to contribute up to $5,000 per year to a Tax Free Savings Account (TFSA) and make tax free withdrawals at any time for any purpose. This flexible account even allows you to re-contribute withdrawn amounts at a later date without reducing the maximum normal contribution for the year. This calculator is designed to help compare a normal taxable investment to a TFSA and a RRSP.
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