Calculators

 

Home Budget Calculator

Managing a budget can be a frustrating and daunting task. One of the most important aspects of controlling a budget is to determine where your money is going. This calculator helps you do just that. By entering your income and monthly expenditures, you can see where your money is going and how to increase savings.

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Buy vs. Lease

Should you lease or buy your car? Use this calculator to find out! We calculate your monthly payments and your total net cost. By comparing these amounts, you can determine which is the better value for you.

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Personal Debt Consolidator

Should you consolidate your debt? This calculator is designed to help determine whether debt consolidation is right for you. Enter your credit cards, auto loans and other installment loan balances by clicking on the 'Enter Data' button for each category, then change the consolidated loan amount, term or rate to create a loan that will work within your budget. Click the 'View Report' button for detailed results.

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Investment Goal Calculator

What will it take to reach your investment goal? Use this investment goal calculator to determine how much your investment may grow before taxes, after taxes and after taxes and inflation. It will also provide suggestions on what to change if your plan doesn't look like it will meet your investment goal.

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Line of Credit and Loan Payments

This calculator helps determine your loan or line payment. For a loan payment, select fixed-term loan. For a credit line payment, you can choose 2%, 1.5% or 1.0% of the outstanding balance or interest only.

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Loan Comparison (i.e. loan vs. mortgage)

Determining which loan provides you with the best value involves more than simply comparing monthly payments. Use this calculator to sort through the monthly payments, fees and other costs associated with getting a new loan. By comparing these important variables side by side, this calculator can help you pick the loan that works best for you. Click on the "View Report" button to see the results in detail.

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Mortgage Qualifier Calculator

The first steps in buying a house are ensuring you can afford to pay at least 5% of the purchase price of the home as a down payment, and determining your budget. This calculator takes you through the process of determining how much you can borrow. Fill in the entry fields and click on the payment schedule button to see a complete amortization schedule of your mortgage payments.

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Mortgage Refinance / Interest Savings

How much interest can you save if you refinance your mortgage? This calculator helps you find that out! Enter the specifics of your current mortgage, along with new loan amortization, rate and closing costs. We will then determine how much interest refinancing can save you.

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Mortgage Payoff Calculator

How much interest can you save by increasing your mortgage payment? This financial calculator helps you find that out. View the report to see a complete amortization payment schedule, and how much you can save on your mortgage!

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Mortgage Amortization Calculator

Use this calculator to generate an amortization schedule for your current mortgage. Quickly calculate interest and principal balances. Press the report button for a full annual or monthly amortization schedule.

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RRIF Payment Calculator

A Registered Retirement Income Fund (RRIF) is a plan designed to provide Canadians with a constant income flow through retirement. The property under a RRIF is created from a transfer of funds from an RRSP or another RRIF. The funds in a RRIF are tax-deferred. Amounts paid out of a RRIF are taxable on receipt. It is mandatory that you convert all your RRSPs by December 31st in the year you turn 71. The latest you are allowed to take your first payment is December 31st in the year you turn 72, however, the payment must be at least the full annual minimum* amount.

Tax law stipulates that a minimum payment must be withdrawn from your RRIF each year and reported as income. *This minimum annual payment is taken from a schedule that is based on your age or the age of your spouse if younger.

For more information, including the factors used, please consult the following link to Canada Revenue Agency's website: http://www.cra-arc.gc.ca/E/pub/tp/ic78-18r6/ic78-18r6-e.txt Use this calculator to find out how much you may withdraw from your RRIF each year.

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Retirement Planner Calculator

Do you know what it takes to create a secure retirement? Use this calculator to help you create a simple retirement plan. View your retirement savings balance and your withdrawals for each year until the end of your retirement.

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Retirement Nest Egg Calculator

Do you know what it takes to create a secure retirement? Use this calculator to help determine what size your retirement nest egg should be.

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Retirement Income Calculator

Use this calculator to determine how much monthly income your retirement savings may provide you in your retirement. Your annual savings, expected rate of return and your current age all have an impact on your monthly retirement income. View the full report to see a year-by-year break down of your retirement savings.

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Savings Calculator

Consistent investments over a number of years can be an effective strategy to accumulate wealth. Even small additions to your savings add up over time. This calculator demonstrates how to put this savings strategy to work for you and the power of compounding.

Note that your investments may be subject to tax if held outside of a registered account such as an RRSP. The cost of tax can reduce your compounded returns. The impact of tax is not considered in this calculation.

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Student Budget Tool

Use this calculator to help analyze your budget as a full-time student. This calculator is specifically designed to help students understand their expenses and income while attending a university, college or other full-time educational institution. This calculator allows you to input your expenses and income for an eight-month school year running from September through April.

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TFSA vs. RRSP Comparison

How taxes are applied to an investment can make an incredible difference. Starting in 2009 all Canadians 18 and older have a new option to save where all earnings and withdrawals are tax free. While there are limits to the amount you are able to contribute, you can make tax free withdrawals at any time for any purpose. This calculator is designed to help compare a normal taxable investment to a TFSA and a RRSP.

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