Manage your Financial Planning with Calculators

This post is shared in collaboration with Pigly, to showcase their collection of free interactive tools and financial calculators. The logo is used with their permission.

You probably already know I’m a big fan of systems. Having a financial system is super important for our household’s well-being. We know that money is an important family topic.

Today I want to introduce you to Pigly because their free collection of calculators is the most comprehensive I have ever seen. Their mission is to help people solve personal finance issues with their online calculators.

Benefits of calculators for your finances

Financial calculators perform specific financial functions that are needed to run a business or a household. They help you create and manage a budget. They help you plan for the future (retirement, family vacations, etc.). They help you with the cost-benefit analysis for purchasing choices you are trying to make.

You can get a physical device that does financial calculations. You can use an Excel workbook to plan your finances. You can also use web-based financial calculators for the same purpose.

Pigly’s online calculators are reviewed by experts to ensure accuracy and reliability. Usage is free for everyone! The site is free and ad-free, so it is a passion project to help others.

Here I’m going to highlight a few categories of calculators they have available, but you’ll need to check them out to see the vast library.

Home purchase calculators

Many Americans dream of homeownership, and real estate is a complicated endeavor. My mom is a real estate broker, and I don’t understand half the terms she uses. Pigly has a vast collection of mortgage calculators to help us plan and determine if we are ready for a mortgage.

If you’re wondering what type of loan to seek, you can use the calculators to see examples of how an adjustable-rate loan or an interest-only loan will look on your finances. You can compare loan terms and decide if you can afford to reduce the typical 30-year mortgage to a 20-year, for example. This screenshot of their mortgage term comparison calculator helps you think through all the financial details of having a mortgage. For example, most people don’t factor in a repairs budget when thinking through their mortgages.

Vehicle affordability

We all need to get around, and most of us have access to a car to drive around. But have you wondered, should you lease or buy your next vehicle? They have a fabulous article and calculator to help you decide whether purchasing a car is in your best interest, or if it would be better to lease. You can even determine vehicle depreciation rates to see if that is a factor in your decision making, think through operating costs, calculate fuel economy, and compare loan repayment options.

Saving for Retirement

Everyone thinks about retirement, and the earlier we begin to calculate our assets and plan retirement savings, the better off we will be when we reach that time. You could use Pigly’s calculators to step through the details of your retirement savings plan and look into rolling over your 401(k) plan if you changed jobs. They even have a calculator to help you determine how much you need to save to have a certain standard of living. You can decide how much you need to withdraw each month based on your current budget or predicted budget after retirement. You can predict this future budget by considering whether your mortgage will be paid off, if you will be traveling, and how much budget you need for day-to-day expenses.

What calculators do you use to plan your finances?

I’ve been sharing and collecting some amazing financial tips and advice for my fellow working moms here. You can see a list of all articles with financial tips here:

Manage your Financial Planning with Calculators