In order to help our clients get the best financial deals, we use specific financial tools to make important calculations. Any financial expert will tell you that financial calculators are needed to help create an estimate of a financial situation. For instance, if you would like to obtain a mortgage loan, a mortgage calculator is used to determine how much the monthly payments will be and whether you’re able to afford it (based on the financial documents that you provide). The financial tools that we use include:
- Budget calculators
- Education calculators
- Retirement calculators
- Wealth accumulation calculators
- Transaction calculators
Each financial tool has its purpose based on a specific formula that is used to make an accurate prediction for our clients.
This tool is used to assist our debt and credit counseling clients. When you have too much debt, you’re going to need to take actions that will help to eliminate it, which includes creating and living on a budget. Our budget calculator will give you an idea of how much you should be spending and saving each month, along with how much you’ll be required to pay on each of your debts to become debt free.
If you have children that you want to put through college, our education calculator can be used to help you to determine how much will need to be saved each month to reach the financial goal. It’s always best to start early when it comes to saving for higher learning. The price of credit hours is always rising, so you’ll need to save as much as possible.
No one wants to work forever and you shouldn’t have to. With our retirement calculator, you’ll be able to determine whether you’re IRAs and Social Security will be enough to cover you until death. If not, we will assist you with coming up with a savings plan that will give you a nice-sized cushion during your retirement years. Struggling financially in your elderly years shouldn’t be an option.
Wealth Accumulation Calculators
When you want to build your wealth, you’ll need to know how much you need to sell each year to make a profit that’s larger than last year’s. Wealth accumulation can be calculated using a formula. Once we have all of your details, we will do the calculations and explain to you how you can get a steady or higher return on investment every quarter, enabling you to increase your wealth each year.
If you own a business or are self-employed, this tool can be used to determine the profit and loss of your transactions. This will let you know if you are getting a return on your investment or if you need to make business changes to boost your profit and diminish your loss. Our financial experts are qualified to guide you through the process of making your business a more profitable one.
No matter what situation you’re in, the financial experts at Mercantile Network can help you. Give us a call today!