5 online tools helpful in personal finance

Personal finance management is one of the most crucial tasks for every investor. One has to take care of a lot of factors like financial goals, income, fixed and variable expenses, investments, inflation, power of compounding, inflation, and so on. Also, analysing the market for better investment options and trends requires a lot of time and attention. With so much in mind, it is not easy to do all the calculations of EMIs (Easy Monthly Instalments), SIPs (Systematic Investment Plans), and retirement planning. A decade ago, it would have been difficult for investors to manage everything simultaneously. Thanks to the advanced technology of the 21st century and the finance brokers for providing the best online tools. 

Online tools like a retirement calculator, income tax calculator, PPF calculator, EMI calculator are available on Scripbox free of cost for every person who is willing to evaluate his investment choices. An investor who is well-versed with the uses and benefits of all these tools will be able to make wise choices and plans. There is no need for spending hours doing all the number crunching to find the expected returns from mutual funds and provident funds. The online tools available on the internet are efficient enough to do the task for the investors. Let us learn more about the use of a retirement calculator and other tools that help manage personal finance. 

Replace the manual calculators with the online ones and do all the tricky computations in a few minutes. 

Retirement Calculator 
Almost every person starts his retirement planning in the early thirties. However, a lot of time gets wasted in knowing the sufficient amount of savings for that period. A retirement calculator will help an investor in discovering the amount he needs to start investing to gain enough wealth by the time he will retire. Since people who are not from the finance background can face difficulties in judging their expected returns, the retirement calculator acts as a guide to get the exact figures. 
One needs to enter his current monthly expenditure and investment situation, age, years left to retirement, and a tentative life expectancy. The retirement calculator takes this data to reflect the total corpus required after retirement and the monthly investment that one has to do for the same. The estimated figures are enough for one to carry on with his lifestyle even after retirement. 

Income Tax Calculator 
Just like the retirement calculator, income tax calculator is also available on the online platform for computing the exact amount that a taxpayer has to arrange for clearing his tax liability. A slight mistake in taking all the required variables or a miscalculation can lead to a lot of trouble since there are many formalities that one has to fulfil for rectifying the errors. Therefore, it is better to use an income tax calculator. Taxpayers have to mention their income, depreciation, TDS, allowances, etc. for knowing the exact amount of due taxes. 

EMI Calculator 
EMIs are of great help for repaying loans to the banks that one avails during any financial crisis. However, most of the debtors find it difficult to know the exact amount that they will pay as interest against the loan amount. Therefore, using an EMI calculator before availing a bank loan can help in making better decisions. There are over a dozen banks and financial institutions in India that offer different types of loans to the citizens. One can also take advantage of this calculator for comparing all the available options to find the most profitable one in the market. 

PPF Calculator 
Public Provident Fund (PPF) is one of the safest savings-cum-investment options for securing money for the future. Investors should use online PPF calculators for keeping a track record of gains for the account since the interest rate is not fixed in this case. The government keeps revising the rate of interest on PPF accounts quarterly. Therefore, it can get confusing to estimate the returns as not everyone is comfortable with such frequent variations. PPF calculator serves as the perfect helping-hand in doing the task! 

SIP or Lumpsum Calculator 
Mutual funds investments have become highly popular and preferable among investors in the Indian market. There are two types of calculators for computing mutual funds returns. 
●    SIP Calculator - It helps in calculating the return from SIP mutual funds given the prevailing interest rate per annum, the amount of monthly instalment and tenure. 
●    Lumpsum Calculator - For the investors who make a lumpsum investment for a fixed tenure, the lumpsum mutual funds calculator is useful in providing an accurate estimation of their expected returns.

Online tools are gaining positive reviews and feedback from users. The retirement calculator among the others has also been serving its purpose for efficient planning. Investors save considerable time and efforts by availing these tools free of cost. The user-friendly interface allows one to use the calculators conveniently without the help of any third party. Personal finance management is not a stressful task anymore!