Budgeting & planning Tools

Work smarter, not harder

Nowadays we have technology at the tips of our fingers. Below is a collection of the best tools to help efficiently budget and plan. Each has a purpose, and give you the information you need to build a financial plan. 

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Salary after-tax calculator

This calculator shows you the after tax income you will receive upon entering your annual salary and bonus. Enter your annual income and pension contributions. The calculator will show you the amount of tax you will pay and the the total income you will receive net of tax. This is a great tool to help you plan when budgeting for the year.

UK link – salary after-tax calculator
Canada link – salary after-tax calculator

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Loan Calculators

Understanding debt is key to improving your financial well-being. If you currently have a loan, you must learn the financial cost of having such loan. Below are a few loan calculators that can show you how long it will take to repay the loan and how much interest you will pay over the life of that loan.

General loan calculator Enter your current loan balance, the interest rate, and the period of time you expect to repay the loan and click calculate. It will show you the monthly repayment amount and the total amount of interest paid over the life of the loan.

UK student loan calculator – Use this great calculator built by yourslrc.co.uk to see how long it will take you to pay off your student debt in the United Kingdom. You can factor in future salary increases, lump sum payments, or additional monthly payments. In the UK student loans are forgiven after 30 years, but if you earn a strong enough salary you will undoubtedly pay off that loan before the 30 year write-off date. Most people opt to make the minimum payment, prolonging the length of the repayment period and the amount of interest they will pay over the long run.

Paying down your debts is a key task to improving your finances.