Tools to help get your finances on track – and they’re free
The team at Smallloans.com.au want all our customers to be in the best financial health they can. If that’s one of your goals, It’s safe to say you’ll want to bookmark this blog post and refer back to it time and again. If you’ve ever wanted a bit of help in visualising or making sense of your finances, there are tools on the internet that can do it for you. It’s just a matter of knowing what to look for and where to look!
In this post, we’re showing you a whole lot of online tools that you can use every day to help your finances and head toward your financial goals. Best of all, they’re free to use.
Credit Card Calculator
If you have a credit card, you may just be paying the minimum repayment each month. But what does that mean for you in the long run? MoneySmart, an initiative of ASIC (the government run body that regulates credit card companies and financial institutions like Smallloans.com.au) has set up an easy to use credit card calculator. All you do is plug in your amount owed and your interest rate and it will show you a graph on how much you’ll be paying in interest and for how long. Shown next to it is the amount you’d be paying if you made higher repayments each month.
Click here for the MoneySmart Credit Card Calculator
MoneySmart also has a Budget Planner that’s free to use. You can access the online web browser version or download a Microsoft Excel spreadsheet that you can use offline. You simply input your income, home and utilities payments, insurance, medical expenses, and groceries and so on. Then the program automatically generates a tally of everything that’s simple to see and easy to use. You can adjust your budget if you want to make savings in one area to bolster another area. You can also save your budget for when you have new numbers to put in, such as additional income or savings goals. Please note if you want to save your results, you’ll need to sign up for a MoneySmart account.
Click here for the MoneySmart Budget Planner
Spending Tracker App
If you have a budget set up, it’s easy to stay on track using your trusty smartphone. The Spending Tracker app is designed to keep you honest about your spending. It shows you exactly what your income is, what portions of it that you’ve devoted to each category such as medical, insurance or groceries and the breakdown of which bits of your money goes where. It’s a great companion to your Budget Planner or the starting point for a budget that you can take with you when out and about. It’s available for Apple iOS and Android Devices and of course, completely free.
Click here to download Spending Tracker on iTunes
Click here to download Spending Tracker on Google Play
If you’re in the market for any type of loan, or need to make stamp duty payments on a vehicle or are just curious about finance in general, the Mortgage and Finance Association of Australia have a series of loan calculators for personal finance, mortgages, income tax and even car leases. All of them are simple to use and answer questions such as “how long does it take to repay?” or “how much can I borrow?” They’re all simple to use like any other calculator. It’s all impartial advice from the body representing finance and credit advisers. After all, the numbers don’t lie.
Click here for the MFAA Loan Calculators.