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Wednesday, January 16, 2008

Best Financial Calculators Online

January is the perfect time for reviewing your financial goals. Some of us are still reeling from the holidays and tax season is still not in full swing. Which makes going over your finances and perhaps scheduling a family finance meeting a good idea in this time of year.

Here's a good calculator for checking your net worth. Bankrate.com has been my favorite site for this time of year because they have the best calculators available online. You are free to come up with any scenario in your head and see it in black and white, including refinancing and extra payments on your mortgage.

Another one for rent versus buy is here. If you're wondering if buying or renting a home - especially in this market - gives you the best return for your money, you might want to plug in some numbers here in the New York Times rent versus buy calculator.

This next one is not really a calculator, but it does help immensely if you're a landlord and wanting some basic comps around your rental. Think you're charging too little or too much? Check out the Rent-o-Meter.

Along the same line, here's a good calculator for what your investment property will yield you and if you should consider buying a rental home. This does require some research of your own regarding annual appreciation and inflation but it does tell you cashflow over the first 5 years and the annual addition to your net worth. Worth a look!

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