Savings

Home Budget Analysis

Managing your monthly budget can be difficult and frustrating. One of the most important aspects of controlling your 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 how much you have left to save and where your money is being spent. In addition, press the “view report” button to compare your budget breakdown to our targets which can help identify areas for improvement.
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Calculate  View ReportGlossary of Terms

Glossary of Terms

Monthly expenses: This is the total of all of your monthly expenses. Click on the button “Expenses Calc” to enter your monthly expenses. This includes your expenses for shelter, family, transportation, vacations, entertainment, loan payments, food, clothing, insurance and other miscellaneous items.
Net monthly pay: Input your income from your paycheque. Click on the button “Paycheque Calc” to enter the details of your paycheque and any deductions. You can enter your paycheque as well as your spouse’s paycheque.
Misc income: Any other income that you receive can be entered here.
Income breakdown: Click on the “show my income breakdown” to view how your income is divided up between your income sources.
Insurance and benefits: Click on the radio button “show my monthly expenses” to view breakdown of your monthly expenses.

 

 

Compare Savings Rates

Even a small difference in the interest you are paid on your savings can add up over time. Use this calculator to see how different savings rates can impact your savings strategy! By making deposits at the start of each month, compared to the end of the month, can also make a difference.  This calculator can help those in Calgary, Edmonton, and Canada.This Financial Calculator requires a Browser with Java(TM) applet Support. If you are seeing this message you will need to download SUN’s Java(TM) Plug-in. This can be done simply, and automatically, by clicking the link below:Get the Java(TM) Plug-in!

 

Calculate  View ReportGlossary of Terms

Glossary of Terms

Starting amount
The starting balance or current amount you have invested or saved. If you haven’t
started saving yet, set the amount to “$0”.

Additional contributions
The amount that you plan on adding to your savings or investment regularly.

Years
The total number of years you are planning to save or invest.

Annual percentage yield (APY)
The annual rate of return for each savings account.

Savings, Taxes, and Inflation Calculator

The value of your savings can be affected by both taxes and inflation. Use this calculator to determine how much your savings will be worth with this in mind. Click the “View Report” button to get more information and a year-by-year savings schedule. This calculator can help those in Calgary, Edmonton, and Canada.
This Financial Calculator requires a Browser with Java(TM) applet Support. If you are seeing this message you will need to download SUN’s Java(TM) Plug-in. This can be done simply, and automatically, by clicking the link below:Get the Java(TM) Plug-in!

 

Calculate  View ReportGlossary of Terms

Glossary of Terms

Years
The number of years you have to save.

Monthly contributions
The amount you will contribute each month to your savings. This calculator assumes that you
make your contribution at the beginning of each month.

Amount currently invested
Total you have saved to date to be included in this analysis.

Expected rate of return
This is the annually compounded rate of return you expect from your investments before taxes. The
actual rate of return is largely dependent on the type of investments you select. For example, for
the last thirty years the average annual rate of return for the TSX is about 10%. Savings accounts
at a bank or credit union may pay as little as 2% or less. It is important to remember that future
rates of return can’t be predicted with certainty and that investments that pay higher rates of
return are subject to higher risk and volatility. The actual rate of return on investments can vary
widely over time, especially for long-term investments. This includes the potential loss of principal
on your investment.

Marginal tax rate
Your marginal tax rate.

Expected inflation rate
What you expect for the average long-term inflation rate.

Dominion Lending Centres Westcor 114 1212 1st ST. SE, Calgary, Alberta. Phone: 403-228-7800. .