Personal Finance Education is lacking. Fruggles everywhere are suffering from lifestyle creep. I am passionate about improving basic knowledge of Personal Finance.
That’s why I’ve built a set of free Personal Finance Calculators. They provide straight-talking, information-only facts. No selling of products or affiliate pushing.
You can try out the calculators right away:
- A Compound Interest Calculator to see how your wealth can grow.
- A Mortgage Repayment Calculator to see how much interest you pay on your mortgage — not just what it costs to repay every month.
From today, you also embed the full calculators or even the individual charts on your Blog or Website. For free!
It’s so simple, just add a couple of lines of HTML. There are examples and snippets you can just copy & paste. I am here to help get you started if you get stuck! I’m a software engineer by trade, so just get in touch if you need a hand.
Compound Interest Calculator
The Money Mage Compound Interest Calculator has been around since January. It’s the first calculator I created.
It’s pretty awesome — it’s super flexible!
It can be used to:
- Show compounding growth over time, for any amounts. Here is what £50,000 at 5% does over 25 years.
- Used to simulate drawdown scenarios, especially useful for FIRE. Here is what £325,000 at a 5% drawdown, whilst growing at 3% does over 25 years. You’d still have £134K in your pot!
- Share — just use the Copy Link button. The values you enter are added to the URL so are easy to share!
- See changes in real-time. Just changes the values and the charts and tables update immediately. No refreshing or clicking.
- Embed — You can embed the entire calculator on your blog or website!
Announcing the new Mortgage Repayment Calculator
Today I am announcing a new Personal Finance Calculator. The Mortgage Repayment Calculator
Some say that Mortgage Overpayments are not worth it. Now you can remove the belief and opinion. You can look yourself at the raw figures & make up your mind.
You can now see what:
- Overpaying your mortgage saves in interest.
- What you could make by saving in the best cash account instead of overpaying
- What you could make by investing at average market returns instead of overpaying
The mortgage repayment calculator also allows you to tweak your interest rate, term.
Embed full calculators on your site, for free!
All of Money Mages’ Personal Finance Calculators can be embedded on your blog or website, for free! As you can see above, I’ve embedded the full Mortgage Repayment Calculator — it’s just a few lines of HTML and is fully customisable.
Embed individual charts in your articles, for free!
Full calculators might not be ideal to embed. Sometimes you just want to embed an individual chart to make a point.
Like how silly it is to only make just over minimum payments on your £3,000 Credit Card Debt.
Now you can! You can use the charts. There are currently three charts:
- Compound Interest Chart. This chart is great for demonstrating compounding or simulating drawdowns.
- Loan Interest and Overpayment Chart. This chart is great for exploring the cost of ownership of a mortgage or simulating overpayments.
- Credit Card Interest and Repayment Chart. This chart is great for exploring the cost of ownership of a credit card or simulating the impact of rapid debt paydown.
Announcing mm.js — Open Source
On my TODO list:
- Asset Class Charts
- Rent vs Buy Calculator
- Second Hand vs PCP Car Calculator
- Networth Graphing via Google Sheets
If you would like to see more, please do get in touch!
mm.js is Open Source. mm.js is licensed under a derivative MIT license. This means you can do what you like with the software I have created, as long as you provide a dofollow backlink to https://www.moneymage.net/calculators/
See LICENSE.md for more details.
I hope you enjoy these charts and calculators. If you’d like to give them a go but don’t know where to start, please get in touch on Twitter @moneymagery. I love making Data Visualisations and charts, I a fan of Edward Tufte*.
You can see some of the charts I will be adding to mm.js in the Money Mage household October 2019 Savings Report.
Sources and Attribution
- Calculator by jakeandlindsay CC-BY