Canadian Calculators

How much is enough to fund my retirement? (Canadian)

This calculator can help you in estimating the total time period till which your savings will last. Input your total savings in the contributions field and the amount that you may withdraw in the withdrawals field. When you click the calculate button, you will be able to view a graph of your total savings again each year. You can use this information to determine the total worth of your savings and analyze the time till which they can last.

Disability Insurance (Canadian)

The most common reason of a loss in income in a family is disability. In most cases, disabilities cause a temporary loss, but it can still affect you significantly if you are not prepared for it. You can use this calculator to estimate a disability insurance amount in these unfortunate circumstances.

Cool Million (Canadian)

Want to save a million dollars in the long run? Take help from this calculator and do just that. Just input the current savings methodologies which you are following and then view your savings per year in the form of a graph. The graph will give you an estimate of your savings till the time you retire. The calculator also prepares a report that lets you know when you have accumulated a million dollars in savings and guides towards achieving it in a shorter span of time.

Savings, Taxes, and Inflation (Canadian)

The total savings which you will accumulate over the years is influenced by factors such as tax and inflation. This calculator can help you find the effect of these two factors on your savings. The report will show you a complete analysis and an appropriate early savings plan.

Bi-weekly Payment Calculator (Canadian)

This calculator estimates the total amount of money that you can save if you opt for a bi-weekly mortgage payment plan. The bi-weekly option allows you to pay off your loan faster because you have to make a payment every two weeks. This amount is 50% of the monthly payment. So in a year you actually pay an amount that is equal to a total of 13 monthly payments, whereas otherwise you would only have been making 12 payments. The end result is that your term length is reduced and you save a significant amount of money in terms of interest.

Auto Loan Calculator (Canadian)

You can use the Auto Loan Calculator to figure out your monthly auto loan payments or to estimate a suitable price for the vehicle which you want to buy. You will first have to provide your current information. When you have done this, you can play with the graph options and see the effect of loan term and down payment on your monthly payments.

Savings Goal (Canadian)

How much money do you need and what strategy should you follow to accomplish your savings goal? Find out the answers with this calculator if you are not sure of what to do. Enter a savings plan and analyze the graphical results on the screen. You can also view a detailed report for more information.

RRSP Loan Calculator (Canadian)

An RRSP loan can be an excellent way to jump start your retirement savings. Use this calculator to see how an RRSP loan could help you in your retirement savings plan. This calculator uses JavaScript so make sure you have it installed. If you use Internet Explorer, then please change the settings to ‘Allow Blocked Content’.

Retirement Nestegg Calculator (Canadian)

Can you gauge the minimum savings amount that you should have accumulated before you retire so that you can meet your living expenses with ease? If the answer is negative, then this calculator can help you.

Rent vs. Buy (Canadian)

It is really not surprising if you cannot decide between renting and buying a home. Just considering the monthly mortgage payment alone cannot help you in making a great decision. There are other complex issues involved such as collecting the down payment which has to be at least five percent of the original purchase price, paying the approval fees and so on. This calculator can be a great help in this regard because it can compare the two options by considering all factors such as the periodic payments, taxes, fees and other expenses. You can use the results in choosing an affordable option for yourself.

Mortgage Refinance Interest Savings (Canadian)

This calculator can help you in determining the amount that you can save in interest if you choose mortgage refinancing. Enter details about both your current and new mortgage. Also input additional information such as the closing costs. The calculator will then do all the analysis for you.

Mortgage Compare (Canadian)

The value of various mortgages cannot be gauged by comparing them on the basis of their monthly payment plans alone. This calculator lets you compare mortgages on other factors as well such as the fees and other involved costs. Thus, you can easily choose a suitable mortgage for yourself.

Equipment Buy vs. Lease (Canadian)

If you are having trouble deciding whether you should lease equipment or buy it new, then this calculator can help you. The calculator will estimate your monthly payment and your net cost. You can then compare these values and choose a suitable option for yourself.

Loan Comparison (Canadian)

You can never gauge the true value of a loan if you just compare it on the basis of monthly payments. There are a lot of other parameters involved that can have significant effects. This calculator can help you in this task and can classify loans according to various factors such as the monthly payments, approval fess and so on. You can then choose the loan which suits you the most.

Life Expectancy Calculator (Canadian)

The money which you will need during your retirement phase is largely dependent on your life expectancy. This calculator can estimate the years till which you may live by assessing various factors such as your gender, age, weight and other habits.

Student Budget Calculator (Canadian)

This calculator can aid you in analyzing your finances if you are pursuing full time education. It has been specifically designed for this and will help you in understanding your expenses while you are attending a college, university or any other educational institute that offers full time education. Input your income and expenses for a complete school year comprising of eight months (September to April), and view a detailed analysis in the report.

Taxable vs. Tax Advantaged Investments (Canadian)

How taxes are applied to an investment can make an incredible difference. This calculator is designed to help compare a normal taxable investment to two common tax advantaged situations: an investment where taxes are deferred until withdrawals are made, and an investment where taxes are paid on money that goes into the account, but all withdrawals are tax free.

Investor Profile Questionnaire (Canadian)

This calculator can help you create a balanced investment portfolio. There are many factors which are used in calculating your profile such as your age, characteristics of each investment and so on. Since this calculator considers all of them, it is a great place to start with.

Interest Only Mortgage Calculator (Canadian)

You can use this calculator to generate a suitable mortgage plan for yourself. The graphs and report will give you a quick look at your principal balance and the total interest amount due. You can also find out the effect of principal payments if you are planning to make them. The calculator also plans your amortization schedule in detail on a monthly or yearly basis.

Education Savings (Canadian)

Giving your children a good education has now become expensive, for this reason you should start saving for it as soon as possible. In fact just like a retirement, educational savings also require a complete plan. This calculator can aid you in developing an educational savings plan. If you already have one, it can help you in improving it.

Enhanced Loan Calculator (Canadian)

This calculator gives you a deeper insight for several loan types. You can use the slider to change various parameters such as monthly payments, interest rate, term and the loan amount.

Credit Line (Canadian)

This calculator can help you in determining the largest credit line for which you can qualify. The credit line is estimated from the total worth of your house. In fact, these two factors are directly related to each other. The credit line also takes into account all the mortgages that you have loaned. Your first mortgage, second mortgage and any other debt that you secured will be considered before you receive a line of credit.

Compound Interest (Canadian)

The way in which an interest amount is calculated has a significant effect on your savings. If the interest is compounded after shorter intervals, you increase your savings. You can use this calculator to find out how compounding affects your total savings and how the interest amounts are added.

Chequebook Balancer (Canadian)

This calculator is a great tool if you want a balanced checkbook. All you have to do is enter the last balance of your account and your remaining checks and deposits. If the estimated amount of the calculator and your checkbook register are equal, then you have a balanced checkbook. If the two are unequal, then you have an unbalanced checkbook. In this case, you should verify your deposits and withdrawals, and make sure they are correct.

Auto Rebate vs. Low Interest Financing (Canadian)

You can use this calculator to evaluate if a low interest financing is more advantageous for you than the manufacturer rebate or vice versa. A rebate lowers your balance and an interest financing decreases your monthly payments. The more suitable option of the two depends on the vehicle price, rebate size and interest rates.

Amortizing Loan Calculator (Canadian)

Enter a suitable value in the Payment textbox and then also feed in their total number. In the ‘Payments are Made’ section, you can select any suitable option from bi-weekly, weekly or monthly. The calculator will then estimate your total loan amount. You can also provide the calculator information on your total loan amount. It will then derive a suitable monthly payment plan for you.

Savings Calculator (Canadian)

If you continually invest or save money for a significant number of years, you can accumulate a very handsome amount. No matter how small your contributions are your funds will significantly increase with time. This calculator can help you in formulating an effective savings strategy.

Retirement Planner (Canadian)

If you have trouble in creating a protected retirement plan for yourself, then this calculator can be a great asset. Input in a few parameters and it will display your savings and withdrawals in a year by year basis.

Retirement Income (Canadian)

This calculator can help you in determining an estimated amount of monthly income during your retirement phase. This income is largely affected by factors such as return rate, age and total annual savings. The calculator considers all these factors and then predicts a suitable value. Complete details and a breakdown of retirement savings on a yearly basis can be viewed in the report.

Net Worth (Canadian)

Your total worth is equal to the difference between your assets and liabilities. In other words, your net worth can be stated as what you have minus your debt. If your belongings are less than your debt, your net worth is negative. If your debt is less than your belongings, your net worth is positive. This can help you in estimating your net worth if you provide some parameters. The reports also predict your net worth for the next few years. You will need to install JavaScript to use this calculator. Moreover, if your browser is Internet Explorer, you will have to change its setting such that it can ‘Allow Blocked Content’.

Mortgage Payoff (Canadian)

If you increase the amount of your mortgage payments, you can save a significant amount of money in terms of interest. This calculator helps you in finding out a pretty good estimated value. The complete results are provided as a report which gives you a complete view of the amortization plan and determines the amount that you can save if you paid off faster.

Emergency Savings Calculator

You should always have some funds that you can use in case of an emergency such as unemployment, illness, property damage and auto repairs. This would make the unfortunate situation more controllable and you would be able to cater to the basic needs of your family which leads to a lesser amount of stress. This calculator can give an estimate of the total amount of emergency savings that you should always have. It also guides you towards accomplishing this objective.

Low Interest Financing Savings (Canadian)

If you avail low interest rates when financing your vehicle, you can save a significant amount of money. This is because you have to pay a lesser amount in monthly payments and also because your interest only payments are considerably reduced. This calculator lets you compare the three most common financing options for your vehicle. You can use the results to figure out a suitable monthly payment plan and analyze the amount that can be saved.

Life Insurance (Canadian)

Can’t figure out the amount of life insurance you need? Use this calculator to help you. Just input your assets, average expenses and monthly income, and the calculator will determine a life insurance amount for you. You would also be able to see the impact of different variables on your insurance such as return and inflation rates. By pressing the Report button, you would also be able to view the future income and expenditure of your family on a per year basis. Please note that if you use Internet Explorer, then you will have to change your settings and choose ‘Allow Blocked Content’ so that you can analyze the results properly.

Investment Goal Calculator

Can’t come up with ways to accomplish your investment goals? Take help from this calculator. It will let you find out the increase in your investment in all possible scenarios that encounter tax and inflation. You can also view your investment without the effect of these two parameters. In addition to this, the report will suggest possible improvements that can help you achieve your investment goal.

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. As of January 2013 you are able to contribute up to $5,500 per year to a Tax Free Savings Account (TFSA) and make tax free withdrawals at any time for any purpose. This calculator is designed to help compare a normal taxable investment to a TFSA and a RRSP.

RRIF Payment Calculator (Canadian)

A Registered Retirement Income Fund or RRIF plan allows Canadian citizens to receive a steady flow of income throughout their retirement period. This income is produced by transferring funds and savings from a Registered Retirement Savings Plan or RRSP or from another RRIF. The savings are not taxable as long as they are kept in an RRIF account, but once you withdraw them, you will have to incur taxes.

Interest Only Mortgage Compare (Canadian)

Comparing mortgages on the basis of monthly payments alone is not enough. There are a lot of other factors involved that can subtly add to your total costs. This calculator considers all the additional costs and the lets you compare mortgages on the basis of all important variables. You can then choose the one which suits you most.

Home Budget (Canadian)

Managing your expenses according to your budget can be tough and stressful at times. Probably the best way to control your budget is to analyze where you are spending most of your money. This calculator can be of great help in this regard. Input your total income and expenses per month and the calculator will give you an insight into those areas where you are majorly spending your money and into the total amount of money that you can save. The results will also give you a breakdown of your budget and help you in identifying possible improvement areas.

Compare Savings Rates (Canadian)

You can increase your savings if you slightly change the interest rate on it. This calculator will make you realize that different interest rates have a significant impact on your savings. For instance, your savings change if you deposit in the beginning of the month or if you deposit in the end.

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