Fabulous & Frugal: A Girl's Guide To Living Well & Spending Wisely » Calculators

Home Budget Analysis

admin — Fri, 10 Oct 2008 10:10:57 +0000

Let’s face it, managing your monthly budget can be depressing and overwhelming. It’s daunting to actually force yourself to see where you are spending your hard earned dough! So take a deep breath and get ready to take a look in the (financial) mirror. By entering your income and monthly expenditures, this calculator will show you where money is being spent and where you could be saving. In addition, you can click the ‘View Report’ button to compare your budget breakdown to our targets, which can help idenitfy areas for improvement.

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For more information about this Plug-in please visit: SUN’s Java Plug-in

Definitions

Your income: Your total gross income from your paycheck.
Other income: Any other income that you receive including bonuses, alimony, child support or income from a business.
Federal tax withholding: Total amount withheld for federal taxes. Enter this amount from your pay stub.
State tax withholding: Total amount withheld for state taxes. Enter this amount from your pay stub.
Local tax withholding: Total amount withheld for local taxes. Enter this amount from your pay stub.
Other taxes and withholdings: Total amount withheld for any other taxes or miscellaneous item. Enter this amount from your pay stub.
FICA: Total withheld for FICA (Federal Insurance Contributions Act) is based on the gross income on your paycheck.
Medicare: Total withheld for Medicare based on the gross income on your paycheck.
Insurance and benefits: Total amount withheld for insurance and benefits by your employer. Enter this amount from you pay stub.
Company retirement savings plan: Total amount withheld from your paycheck that is deposited into a company retirement savings plan such as a 401(k) or 403(b).

Please note that all financial calculators require a browser that can display Java™ applets. For best results please use Explorer 7, Netscape Navigator 7 and higher, Macintosh Safari or Modzilla FireFox 1.0 and higher.

Savings Calculator

admin — Fri, 10 Oct 2008 10:04:12 +0000

Even small savings over a number of years can add up to a big bank account in the long run! This calculator will inspire you to start saving for your future — now.

Get the Java Plug-in!

For more information about this Plug-in please visit: SUN’s Java Plug-in

Starting amount

The starting balance or current amount you have invested or saved.

Years

The total number of years you are planning to save or invest.

Additional contributions

The amount that you plan on adding to your savings or investment each period. The investment period options include weekly, bi-weekly, monthly, quarterly and annually. This calculator assumes that you make your contributions at the beginning of each period.

Rate of return

The annual rate of return for this investment or savings account. The actual rate of return is largely dependent on the type of investments you select. From January 1970 to December 2007, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.4% per year (source: www.standardandpoors.com). During this period, the highest 12-month return was 61%, and the lowest was -39%. Savings accounts at a bank may pay as little as 1% or less.

It is important to remember that future rates of return can’t be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that funds and/or investment companies may charge.

Compounding

Earnings on an investment’s earnings, plus previous interest. This calculator allows you to choose the frequency that your investment’s interest or income is added to your account. The more frequently this occurs, the sooner your accumulated earnings will generate additional earnings. For stock and mutual fund investments, you should usually choose ‘Annual’. For savings accounts and CDs, all of the options are valid, although you will need to check with your financial institution to find out how often interest is being compounded on your particular investment.

Credit Card Payoff

admin — Fri, 10 Oct 2008 02:01:28 +0000

If you think you will never be able to get rid of your credit card debt, think again! See what it will take to pay off your balance and what you can change to meet your repayment goals.

Get the Java Plug-in!

For more information about this Plug-in please visit: SUN’s Java Plug-in

Definitions

Current balance: Current outstanding balance on your credit card.
Pay off goal (in months): Your goal for paying off this credit card. This is the number of months by which you would like to have completely paid off this credit card balance.
Current monthly payment: The amount you are currently paying per month on this credit card. Please enter the amount you actually pay, not the minimum payment. This amount is used to calculate how long it will take you to pay off your balance.
Planned additional monthly charges: Total new charges you expect to put on this credit card per month.
Interest rate (APR): The annual percentage interest rate being charged for this credit card.
Annual fee: Your annual fee for this credit card, if any.
Major purchase: If you expect a major purchase beyond your normal charges, enter the amount to be spent here.
Months from now: Number of months before your major purchase will occur.

Savings Goals

admin — Fri, 10 Oct 2008 01:57:43 +0000

Feel like it will take a miracle to help you reach your savings goal? Whether you are saving for a new car, or just a new pair of shoes, we can help you get organized to reach goals big and small. Just enter in your savings plan and graphically view your financial results. Click the report button to get more info on your plan, and what you can do to make sure it is on track!

This Financial Calculator requires SUN's Java Plug-in. If you see this message you will need to download SUN's Java Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing Install ActiveX Control.

Get the Java Plug-in!

For more information about this Plug-in please visit: SUN's Java Plug-in

Savings goal

The amount you wish to have in savings at the end of this savings plan.

Years to save

The number of years you have to save.

Amount currently saved

Total you currently have saved toward this savings goal.

Monthly savings

The amount you will contribute each month to your investments. This calculator also assumes that you make your contribution at the beginning of each month.

Expected Rate of Return

This is the annually compounded rate of return you expect from your investments. For the purposes of this calculator, taxation is not factored into the results. If you pay taxes on the interest, dividends or capital gains from these investments you may wish to enter your after tax rate of return.

The actual rate of return is largely dependent on the type of investments you select. From January 1970 to December 2007, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.4% per year (source: www.standardandpoors.com). During this period, the highest 12-month return was 61%, and the lowest was -39%. Savings accounts at a bank may pay as little as 1% or less.

It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that funds and/or investment companies may charge.

Expected Inflation Rate

What you expect for the average long-term inflation rate. A common measure of inflation in the U.S. is the Consumer Price Index (CPI), which has a long-term average of 3.1% annually, from 1925 through 2007. The CPI for 2007 was 2.4%, as reported by the Minneapolis Federal Reserve.

Retirement Planner

admin — Thu, 09 Oct 2008 14:06:03 +0000

We know, we know – retirement is probably the furthest thing from your mind. Even if you don’t have a lot of money now, remember – time is on your side and it pays to start planning early. This calc will help you create a retirement plan so when the time comes that Boca beach house will be well within your reach!

Get the Java Plug-in!

For more information about this Plug-in please visit: SUN’s Java Plug-in

Current age

Your current age.

Age of retirement

Age you wish to retire. This calculator assumes that the year you retire, you do not make any contributions to your retirement savings. So if you retire at age 65, your last contribution happened when you were actually age 64. This calculator also assumes that you make your entire contribution at the end of each year.

Household income

Your total household income. If you are married, this should include your spouse’s income.

Current retirement savings

Total amount that you currently have saved toward your retirement. Include all sources of retirement savings such as 401(k)s, IRAs and Annuities.

Rate of return before retirement

This is the annual rate of return you expect from your investments after taxes. The actual rate of return is largely dependent on the type of investments you select. From January 1970 to December 2007, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.4% per year (source: www.standardandpoors.com). During this period, the highest 12-month return was 61%, and the lowest was -39%. Savings accounts at a bank may pay as little as 1% or less.

Rate of return during retirement

This is the annual rate of return you expect from your investments during retirement, after taxes. It is often lower than the return earned before retirement due to more conservative investment choices to help insure a steady flow of income. The actual rate of return is largely dependent on the type of investments you select. From January 1970 to December 2007, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.4% per year (source: www.standardandpoors.com). During this period, the highest 12-month return was 61%, and the lowest was -39%. Savings accounts at a bank may pay as little as 1% or less.

Percent of income to contribute

The percentage of your annual income you will save for your retirement goals. This should reflect the total you save toward your retirement. This should include any 403(b), 401(k), or 457(b) plans and your employer contributions to these plans. It should also include any other retirement accounts such as an IRA or a Roth IRA and any retirement savings in non-retirement accounts. This calculator assumes that you make one annual contributions at the end of each year, and any withdrawals happen once per year at the end of the year.

Expected salary increase

Annual percent increase you expect in your household income.

Years of retirement income

Total number of years you expect to use your retirement income.

Percent of income at retirement

The percent of your working year’s household income you think you will need to have in retirement. This amount is based on your income earned during the last year you will work. You can change this amount to be as low as 50% and as high as 150%.

Expected rate of inflation

If you are married checkbox

Check this box if you are married. Married couples have a higher maximum social security benefit than single wage earners.

To include Social Security checkbox

Check this box if you wish to include social security benefits in your retirement planning. Social Security is based on a sliding scale depending on your income, how long you work and at what age you retire. Social Security benefits automatically increases each year based on increases in the Consumer Price Index. Including a spouse increases your Social Security benefits by 1.5 times your individual estimated benefit. Please note that this calculator assumes that you have only one working spouse. Benefits could be different if your spouse worked and earned a benefit higher than one half of your benefit. If you are a married couple, and both spouses work, you may need to run the calculation twice – once for each spouse and their respective income. This calculator provides only an estimate of your benefits.

The calculations use the 2008 FICA income limit of $102,000 with an annual maximum Social Security benefit of $26,220 per year for a single person and 1.5 times this amount for a married couple. To receive the maximum benefit would require earning the maximum FICA salary for nearly your entire career. You would also need to begin receiving benefits at your full retirement age of 66 or 67 (depending on your birthdate). Your actual benefit may be lower or higher depending on your work history and the complete compensation rules used by Social Security.