Service member looks through a scope

11 Calculators to Help You Scope Out Your Personal Finances

Buying a car or appliance? Applying for a loan? Paying off debt? Saving for college? Take more control of your personal finances. Military OneSource has assembled 11 calculators to show you how to pay off debt and help you better manage life's financial decisions.

11 personal finance tools to help you manage your money

  • Car payment calculator. Buying a car? Before stepping onto the lot, calculate ahead of time a monthly car payment you can afford.
  • Credit card payoff calculator. Figure out how long it will take to pay off your credit card debt, which is considered "bad debt." Tip: Focus on paying bad debt off first.
  • College savings calculator. Calculate the amount you need to save each month in order to pay for college. 
  • Major purchase calculator. Need to buy an appliance or furniture soon? Planning a vacation? Calculate how much you'll need to save and for how long.
  • Loan calculators. Considering a loan? This calculator helps you find out how much money you can afford to borrow. When taking a loan, there are five other factors to think about — and a calculator for each:
    • Computing the interest rate on a loan given a loan amount, payment amount and number of payments
    • Calculating how many payments it will take to pay off a loan
    • Figuring the payment amount (principal and interest) for a fixed-rate loan 
    • Seeing whether it is worth consolidating your various loans and other debt in order to lower interest rates or get a better combined monthly payment, and 
    • Determining whether an auto loan or home equity loan is a better deal for buying a car; this calculator helps you compare the two.
  • Debt elimination calculator. Figure out different ways to eliminate your debt and which approach works best for you. 

Keep in mind: These calculators provide a first step in making sound financial decisions. Remember that the results are only estimates. You can talk with an installation Financial Readiness Manager for free before making any big money decisions. Contact Military OneSource online or call us at 800-342-9647.