Here are the Best Free Personal Finance Tools Online
Browse, download, utilize, share, and begin having the conversation about personal finance before it is too late. Most people avoid money conversations. Well most of them are also struggling financially.
Annual Market Information 2010-2020
Market Data for Beginner Investors Quick Market data in Excel from the major US indexes (or indices) typically discussed in Business news. It proves that you can make over 8% annually if you invest.
Investors who gauge market movements by tracking the performance of the U.S. market are the Dow Jones Industrial Average (DJIA), S&P 500 Index, and Nasdaq Composite Index. These Indexes are typically the baseline for index investing.
Budgeting
Net/Max Budget Ratio Calculator
This downloadable excel resource teaches the user about creating a sound budget that accounts for the misc. and unexpected while building wealth and paying off debt simultaneously.
Net/Max Budget Ratio Calculator version 2
This downloadable Excel, Budget Ratio version 2 calculates how the maximum money management limit at any salary level. It’s harder to see the result if you are only seeing the possibilities monthly. This expands the concept and allows the user to understand the power they have to create a million-dollar investment or retirement portfolio.
The example below lists a salary of $40,000. That person should be striving to save 25% of their income or $833.33 per month. At 30 years, your investments at 8% would equal $1,132,832. The magic of discipline and compounding interest.
Net/Max Budget Ratio Calculator version 3 as of 6.23.21
Newest Update which assets a pseudo short-term debt repayment calculator as well as a Net Worth Estimator. This is not exhaustive however it helps to give a glimpse of how a person or a household can formulate a budget with a financial plan that can work to their advantage.
The example below lists a salary of $45,438. That person should be striving to save 25% of their income or $946.63 per month. At 30 years, your investments at 8% would equal $1,286,841. The magic of discipline and compounding interest. With a starting debt of $37,000 around the 6-year mark while saving $8,400. Even with a salary of $45k, they would have a net worth of $70,000 by year 5.
Financial literacy should make planning and sacrificing today reassuring.
Household Budgeting Sheet – Releasing September 202X
Paid Content – This is a downloadable excel resource that I lot of people wanted for a while. I ended up creating it after a lot of work to make it intuitive but I got lazy with the explanation. I’ll go through it in my consultations. It’s too much for me to explain and type up as of now. People can download it but all the cells are protected.
Average Income, Ideal Budget
This downloadable excel resource is a great way to understand debt issue points, and money management while formulating strategies to solve these problems. The goal is to derive an ideal budget that works for you. The goal is to empower users to plan and execute their goals and aspirations throughout their lifetime.
Debt Pay-Off Strategy
Net/Max Debt Pay-Off Estimator Post housing recession of 2008, Dave Ramsey’s Financial Peace University popularized the “debt-free budget”. The basic rule is that you are pouring your focus on Baby Step 2. Sticking to your needs and aggressively paying down your debts. This downloadable excel resource teaches the user about various debt pay-offs.
Debt Snowball or Avalanche Calculator. Use the snowball effect to eliminate your credit card debt and other consumer loans. How fast can I get out of debt? How much can I save in interest payments? That is what our Debt Reduction Calculator can help you figure out.
“Getting out of debt is not easy, but with a good plan and firm determination, it is entirely possible. The debt snowball calculator is a simple spreadsheet available for Microsoft Excel® and Google Sheets that helps you come up with a plan. It uses the debt roll-up approach, also known as the debt snowball, to create a payment schedule that shows how you can most effectively pay off your debts.” – by Vertex42
Money Maximizer
The goal of this Excel resource is to teach the user about the importance of investing through employer-sponsored services such as 401k, 457b, 403b; Individual investment accounts (IRA), and Health Savings Accounts. Each of these has its pluses and minuses, as well as IRS-dictated annual contribution amounts. Depending on their nature, they can be tax-deferred, or tax-free growth assets.
Net/Max Simple Affordability Matrix This downloadable excel resource educates the user on the cause and effect of affordable choices. The lifetime value can be north of $500,000 with interest reduction.
This resource was inspired by 2020 Presidential candidate, Elizabeth Warrant’s Book The two-income trap consists of three phenomena that have arisen as families have come to rely on two working adults to make ends meet:
- The addition of a second earner means, in practice, a big increase in household fixed expenses for things like child care and commuting.
- Much of the money that American second earners bring in has been gobbled up, in practice, by zero-sum competition for educational opportunities expressed as either skyrocketed prices for houses in good school districts or escalating tuition at public universities.
- Last, while the addition of the second earner has not brought in much gain, it has created an increase in downside risk by eliminating an implicit insurance policy that families used to rely on.
Net/Max Affordability Estimator Level 2
This downloadable excel resource teaches the user of the power of choice and how every asset vehicle and money management decision today helps or hurts future retirement dreams. It provides the most comprehensive understanding of the millennial money management schema.
Household Budgeting radically enhances your finance
This downloadable excel calculates debt to income ratio which is the second most important factor in the home-ownership process.
To calculate your debt-to-income ratio, you add up all your monthly debt payments and divide them by your gross monthly income. Your gross monthly income is generally the amount of money you have earned before your taxes and other deductions are taken out.
Net/Max Affordable Home Calculator
This downloadable excel resource teaches the user the benefits of an affordable (starter) home and the cost associated with larger standard home loans. Keeping the average monthly housing costs below 25% of your take-home pay can yield substantial results.
Average Salary and the Hours it Takes to Afford X
This is a downloadable document that shows you how much it takes to afford X. For example, a wedding of $38,000 can take years if your salary is less than $100k. However, consumers ended up putting their entire lives in debt instead. This can add a lot of mental value to your personal finance journey.
Dividend Investment Calculator
TNFG Dividend Investment Calculator
— For many investors, consistent quarterly dividend income can be a safe way to grow a nest egg.
This investment strategy can be an important part of any saver’s portfolio, especially as a source of cash flow. The benefit is that you can invest in a mock retirement pension on your own. This calculator shows you how your small investments today can yield amazing results over time.
The Most Important Section of Personal Finance – Retirement Readiness Guide
TNFG Parent(s) Retirement Guide Parent(s) freaking about retirement yet. This is a great guide to figuring out the numbers aspect. You ultimately need to know Regular Expenses, Heavy Long Term expenses if any, and where the funding sources are.
Tax Planning is the most misunderstood tenant of personal finance
Federal Income Tax Estimator For 2019 Tax avoidance is the use of legal methods to minimize the amount of income tax owed by an individual or a business.
This is generally accomplished by claiming as many deductions and credits as is allowable. This downloadable Excel resource helps the user plan their 2019 taxes.
Federal Income Tax Estimator for 2020 This downloadable Excel resource helps the user plan their 2020 taxes.
Federal Income Tax Estimator for 2021. Taxes are one of life’s certainties, and no one likes giving up some of their hard-earned cash.
With proper tax preparation, however, it’s possible to pay less in taxes or receive a larger refund at the end of the year. While paying taxes is inevitable, there are several ways to diminish your tax burden and end each year with more money. Proper tax planning makes it easier to build your finances and afford the things you want.
Tax avoidance is the use of legal methods to minimize the amount of income tax owed by an individual or a business.
This is generally accomplished by claiming as many deductions and credits as is allowable. This downloadable Excel resource helps the user plan their 2021 taxes. Employer Plan contribution limits remain the same at $19,500, and so do IRA contributions at $6,000 for those under 50. Health Savings Account contributions up to $3,600.
Tax Changes for 2022 and Tax Rate Updates
This tax estimator is updated with all the IRS changes for 2022. You can save taxes on up to $30,000 for unmarried individuals or $60,000 for married filing joint.
These changes provide long-term automatic millionaire benefits. It’s a $1.6 Million ending balance after 20 years for singles and over $3 Million for married couples.
Major bucks are in order and favor of education, marriage, home ownership, investing, and business creation. Mastering taxes will increase your finance and well-being.
Tax Rate Updates for 2023 – 10.19.22
New Tax Rate Updates for 2024 – 12.21.23
Misc. Finance Tools
Net/Max Financial Literacy Survey Results for 2019 Net/Max Financial Literacy Survey spot-check for those in my immediate network. It’s an opportunity to level set anonymously. Coming clean about what we struggle with and what we need help with. It also provides me with an opportunity to tweak and focus my messages. These survey results offer a fresh revealing look at other people’s finances. In the end, it shows that we are all in the same boat.
2020 Goals and Planning Template This downloadable Excel resource provides an easy tool for planning for 2020. SMART goals set you up for success by making goals specific, measurable, achievable, realistic, and timely.
The S.M.A.R.T. method helps push you further, gives you a sense of direction, and helps you organize and reach your goals.
