Financial calculators, instantly.
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Compound Interest
Watch your money grow.
Loan Payment
Your monthly payment, before you sign.
Savings Goal
How much to save each month.
Debt Payoff
When you'll be debt-free.
Salary → Hourly
What your time is worth.
Compound Interest
See what your savings or investments grow into over time — retirement, index funds, or any account that earns interest. Results update as you type.
How compound interest works
Compound interest means you earn returns on your returns. Year one, you earn interest on your deposit. Year two, you earn interest on your deposit plus last year's interest. That loop repeats every year, which is why the green curve above bends upward instead of climbing in a straight line — and why the gap between what you put in and what you end up with keeps widening.
Why time beats amount
Someone who invests $200/month from age 25 to 35 and then stops typically ends up with more at 65 than someone who invests $200/month from 35 all the way to 65 — despite putting in a third of the money. The first decade of compounding does the heaviest lifting. The practical takeaway: starting small today beats starting big later.
The formula behind the calculator
Where P is your initial deposit, r the annual rate (as a decimal), n the compounding periods per year (12 for monthly), t the years, and PMT your contribution per period. The first term grows your starting amount; the second term grows every contribution from the month it was made.
A useful shortcut is the Rule of 72: divide 72 by your rate to estimate the doubling time. At 8%, money doubles roughly every 9 years — the "Money doubles in" figure above uses the exact logarithmic version of this.
Common questions
What return rate should I use?
Depends on where the money sits. A high-yield savings account: 3–5%. A broad stock index fund: historically ~7% per year after inflation (~10% before), averaged over decades. Individual stocks or crypto: anything — which is exactly why long-term planning usually assumes a diversified index, not a lucky pick. When in doubt, run the calculator at 5% and 8% and treat the range as your realistic outcome.
Is compound growth guaranteed?
Only for fixed-rate products like savings accounts and CDs. Market investments compound on average — some years are negative. Over 20+ years the average has been remarkably steady historically, but any single year can swing wildly. Never use this calculator's output as a promise; use it as a planning estimate.
Does monthly vs. yearly compounding matter much?
Less than people think. $10,000 at 7% for 20 years: yearly compounding gives $38,697, monthly gives $40,387 — about 4% more. The rate and the time horizon matter far more than the frequency. (This calculator compounds monthly, which matches most savings accounts and funds.)
What about inflation and taxes?
Both quietly eat returns. At 3% inflation, money loses half its purchasing power in ~24 years, so a 7% nominal return is roughly 4% in real terms — enter 4% in the calculator to see inflation-adjusted results. Taxes vary by country and account type; tax-sheltered accounts (401k, ISA, ISK, etc.) let the full return compound untouched, which compounds the advantage itself.
Loan Payment
Know your monthly payment before you sign — mortgage, car, or personal loan. Compare rates and terms to see what the loan really costs.
Understanding your monthly payment
Every loan payment does two jobs: it pays the interest the bank charges on what you still owe, and it chips away at the debt itself (the principal). Because interest is charged on the remaining balance, the split changes over time — early payments are mostly interest, late payments are mostly principal. This schedule is called amortization.
Small rate differences, huge money
The same $300,000 loan at 6.0% instead of 6.5% costs $1,799/month — only $97 less. But over 30 years that half-percent saves about $35,000 in total interest. This is why shopping between lenders and negotiating your rate is the highest-paid hour of work most people will ever do.
15 years vs. 30 years
A 15-year term on that loan means a higher payment ($2,613 vs. $1,896) but total interest drops from $382,600 to $170,400 — you keep over $212,000. The 30-year term isn't wrong; it buys flexibility. A common middle path: take the 30-year, then pay extra toward principal when you can.
The formula behind the calculator
Where P is the loan amount, r the monthly rate (annual ÷ 12), and n the number of monthly payments. This is the standard amortization formula used by every bank.
Common questions
Should I make extra payments toward principal?
Extra principal payments skip the interest they would have generated for the rest of the term, so money paid early works hardest. On a fresh 30-year 6.5% loan, roughly every extra $1 paid in year one saves about $2 in interest later. Check that your lender applies extra payments to principal (not next month's payment) and has no prepayment penalty.
What's the difference between interest rate and APR?
The interest rate is what the lender charges on the balance. APR bundles in mandatory fees (origination, some closing costs), so it's slightly higher and better for comparing offers between lenders. This calculator uses the plain interest rate.
How much house can I afford?
A common guideline is that housing costs (payment + taxes + insurance) should stay under about a third of gross monthly income. Work backwards: set the slider to your rate, then adjust the loan amount until the payment lands where your budget allows — that's your comfortable price range, before the bank tells you their maximum (which is usually higher than what's comfortable).
Savings Goal
Saving for a down payment, emergency fund, or something big? See exactly how much to put aside each month to get there on time.
Reaching a savings goal
Any savings goal comes down to three levers: how much time you have, what return your money earns, and what you contribute monthly. This calculator solves for the third — but the interesting insight is how strongly the first two pull. Interest quietly covers part of the goal for you, and every extra year of runway lowers the monthly burden more than people expect.
Interest does real work, even at "boring" rates
Put away $500/month at 4% for 10 years and you contribute $60,000 — but end with about $73,600. The account earned $13,600 while you slept. That's why parking goal-money in a zero-interest checking account is an invisible loss: same effort, smaller result.
The strategy that actually works
Willpower-based saving fails because spending happens first. The fix is mechanical: set an automatic transfer for the day after payday, sized by this calculator. You adapt to the money that's left — this is the same psychology that makes payroll taxes painless. Keep the goal money in a separate account so it doesn't look spendable.
Common questions
Where should goal money live?
Match the account to the timeline. Under ~3 years: high-yield savings account — the money must be there when you need it. 3–10 years: a mix of savings and broad index funds depending on how flexible the deadline is. Over 10 years: mostly index funds, since short-term dips have time to recover. Never put next year's house down payment in stocks.
Should I save or pay off debt first?
Compare rates. Credit card debt at 22% "earns" you 22% guaranteed when paid off — no savings account beats that, so clear expensive debt first (keeping a small emergency buffer). Low-rate debt like a 3% mortgage is the opposite: saving and investing alongside it usually wins.
What if I can't afford the calculated amount?
Change a different lever: extend the deadline (biggest effect), lower the goal, or improve the rate. The calculator makes the trade-offs visible — drag the years slider and watch the monthly amount fall. A goal you can actually sustain beats an ambitious one you abandon in March.
Debt Payoff
Paying off a credit card or loan? See how long it takes with your current payment — and how much faster it goes if you pay a bit more.
Paying off debt faster
Debt is compound interest running in reverse: the balance earns interest for the bank, every month, on whatever you haven't paid off yet. At credit-card rates above 20%, that machine works fast — which is exactly why small increases in your payment have outsized effects. Every extra dollar goes straight to principal and stops generating interest forever.
The minimum payment trap
Card issuers typically set minimums around 2% of the balance — designed to keep you paying as long as possible. On that same $8,000 at 22%, paying $170/month takes over 9 years and costs $10,583 in interest — more than the original debt. The minimum isn't a suggestion for you; it's a revenue plan for them. Always pay more than the minimum, even if it's just $20.
Two payoff strategies that work
With multiple debts, pick a method and automate it. Avalanche: pay minimums on everything, throw every spare dollar at the highest APR first — mathematically optimal. Snowball: attack the smallest balance first for the psychological win of closing accounts — slightly more expensive, dramatically better completion rates. The best method is the one you'll stick with.
Common questions
Should I use savings to pay off my card?
Usually yes, above a small emergency buffer. Savings earning 4% while a card charges 22% is an 18% guaranteed loss on every dollar sitting idle. Keep roughly one month of expenses as a cushion, deploy the rest against the debt, then rebuild savings with the freed-up payment.
Is a balance transfer or consolidation loan worth it?
A 0% balance-transfer card or a personal loan at 10–12% can cut the interest drain dramatically — if you keep the payment the same and don't run up the old card again. Watch for transfer fees (typically 3–5%) and where the rate jumps after the promo period. The tool is only as good as the discipline behind it.
Why does my balance barely move even though I pay every month?
Check what share of your payment is interest. At 22% APR, an $8,000 balance generates about $147 of interest monthly — pay $170 and only $23 touches the principal. If the calculator above shows "Never", your payment doesn't even cover the interest. Raising the payment is the only exit; the slider shows exactly how much each increase buys you.
Salary → Hourly
Compare job offers, price freelance work, or find out what your time is really worth — per hour, day, week, and month, before and after tax.
Salary vs. hourly pay
Your hourly rate is the exchange rate between your time and your money — and most salaried people don't know theirs. It's the number that tells you whether a job offer, a side project, an hour of overtime, or paying someone to mow your lawn is actually a good deal. The standard math: a full-time year is 40 hours × 52 weeks = 2,080 hours, so $65,000/year is $31.25/hour before taxes.
Comparing offers fairly
A $65,000 salary and a $30/hour contract are not the same money. The hourly worker at 2,080 hours grosses $62,400 — but usually without paid vacation, sick days, employer retirement matching, or subsidized insurance. Benefits are commonly worth 20–30% on top of salary, so the honest comparison is hourly rate × hours plus the benefits you'd otherwise buy yourself. Freelancers price this in — it's why their rates look "high".
What your hourly rate is for
Once you know it, decisions get simpler. Is a $200 time-saving purchase worth it? If it saves you 10 hours and your rate is $31, yes. Is unpaid overtime "fine"? Every extra hour silently lowers your real rate — use the hours slider above and watch it happen. The rate turns vague feelings about time into arithmetic.
Common questions
Why do some calculators use 2,080 hours and others 1,920?
2,080 assumes you're paid for all 52 weeks (standard for salaried roles — vacation is paid). 1,920 assumes ~4 unpaid weeks off, which fits freelancers and contractors. Use the weeks slider: 52 for employees, 46–48 for realistic freelance planning.
What hourly rate should I charge as a freelancer?
A common starting rule: take the equivalent salary rate and multiply by 1.5–2×. The markup isn't greed — it covers self-employment taxes, health insurance, retirement, equipment, unpaid admin time, and gaps between clients. Charging your old salary's hourly rate as a freelancer is an accidental pay cut.
Is this before or after tax?
Everything here is gross (pre-tax), because tax depends on your country, region, and deductions. As a rough planning habit, assume 25–35% goes to taxes for a mid-range income and check your actual payslip for the real figure. Your true "keep rate" per hour is what remains — often a sobering but useful number.
About UseFinCalc
UseFinCalc is a free collection of financial calculators built to make money decisions easier to see. Every tool runs entirely in your browser — the numbers you type are never sent to any server, and results update instantly as you type.
The calculators use the same standard formulas banks and financial planners use (amortization, compound interest, annuities). They are planning tools, not financial advice: real-world returns, taxes, and fees vary, so always verify important decisions with your bank or a licensed advisor.
Privacy Policy
What we store: Your preferences (theme, currency) and the values you enter are saved in your own browser's local storage so they're still there on your next visit. This data never leaves your device, and we cannot see it.
What we don't do: No accounts, no registration, no selling of data. The calculations run locally in your browser.
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Questions? See the contact page.
Contact
Found a bug, have a feature idea, or spotted a number that looks off? We'd like to hear it.
Email: usefincalc@gmail.com