Working out a savings plan, mortgage repayments or the superannuation (pension) you’re destined to receive at retirement can be a time consuming and laborious task. Luckily there’s now a free iPhone app that can simplify these processes and more, developed in part thanks to the Australian government and it’s called MoneySmart Financial Calculator.
Instead of providing you with the sums and methods to work out how fast you can save for your next car, whether an intrest-free deal is really saving you money and if you’re paying enough on your loan repayments, MoneySmart simply asks you a few questions related to your financial situation. The app then does the sums for you and works out your savings goal, repayment rate , retirement income or other financial queries.
The app is focused on the Australian market, which means it uses the dollar but this shouldn’t make a difference aside from seeing the dollar sign instead of your familiar local currency. Queries such as loan repayment rates and superannuation calculation offer fields for you to specify interest rates and employer contributions, meaning you can input your own data to make the outcome specific to your circumstances.
- Work out common financial queries without the need to do your own sums.
- Calculate savings plans, loan repayment schedules, superannuation outcomes, mortgage repayments and whether interest-free deals are bargains or not.
- Produced by an Australian government agency, but useful regardless of geographical location.
- Similar tools: Quick Tax, FinancialHealth, WhereMyMoneyGoes, VisualEconomics, TaxACT, and CalcMoolator.
Check out MoneySmart Financial Calculator @ App Store