Would you ever consider taking a math class without a calculator? Of course not! So why would you want to go through life without the assistance of a calculator meant specially to aid you and your finances? Below are three different calculators that I have provided for you so that you can incorporate them into your everyday life.
Student Loan Repayment Estimator
College is awesome, but sometimes we are faced with taking out student loans so that we can get an education. If you have ever caught yourself wondering how long it will take you to pay off your student loans, then you should use the student loan repayment estimator provided by FASFA. You can estimate your monthly loan payments and evaluate loan repayment options by going to this website:
Then, proceed to log in to your account and your loans and interest rate will show you the estimate of your payments. This estimator will provide you with the answers you need so that you can start to prepare a budget for paying off your student loans.
Tax Withholding Estimator
Whether you get paid weekly, biweekly, or monthly, its important to identify your tax withholdings so that you are having the right amount of tax withheld from each paycheck. For every employee this is important because checking your withholdings can be vital to making sure you didn’t withhold too little and end up facing an unexpected tax bill. A great tool to use is the Tax Withholding Estimator provided by the IRS. By using this estimator, you can determine if you need to give your employer a new W-4 form and adjust your income tax withholdings. Just visit https://apps.irs.gov/app/tax-withholding-estimator to utilize this tool.
Mortgage Calculator
Are you looking to buy a home? Maybe you’re graduating soon and you feel like this is the next step. Buying a home can be an overwhelming experience considering all the different options available and the monthly mortgage payment you are about to incur. NerdWallet is here to help. If you are wanting to figure out what your monthly payment may be so you can budget your future purchase, a mortgage calculator can help. Nerdwallet’s calculator can help to estimate your monthly payment that includes your principal and interest, taxes, insurance, and private mortgage insurance (PMI). All you have to do is go to https://www.nerdwallet.com/mortgages/mortgage-calculator/calculate-mortgage-payment and enter in your home price, down payment, interest rate, loan term, and location of your home.
If you need additional help with these calculators or have further questions, then Powercat Financial is here to help! The peer counselors are available to assist you with any of your financial concerns, and they excel at utilizing all of the calculators listed above. Schedule an appointment with us today at www.k-state.edu/powercatfinancial/! We look forward to meeting with you.
Emma Drees
Peer Counselor II
Powercat Financial
www.k-state.edu/powercatfinancial
