We just barely got out of the two-year pandemic that cost many people’s lives and livelihood. Then came the wars that caused the global crude oil price hike. The results cascaded to the common folk having to endure gas prices, resulting in them giving up some of the things they enjoy to stretch the value of their peso. At this time, we really need to exercise prudence and the proper calculation of finances. We also need an app or software that will help us out in calculating properly. That way, we get a clearer picture of our income and expenses.
Why We Need Prudence and the Proper Calculation of Finances
The rising transportation costs meant a price increase for school fees, clothing, fares, grocery items, fresh produce–practically, everything! Even cremation due to COVID deaths had a significant price increase in just a few months.
That is because we need fuel to move things around the world. And some need more fuel to operate than others.
All these price increases have a very significant impact on the common Joe who usually has a job, has a family, pays for a mortgage, and owns a car, or maybe two. Most of the time, it’s only the mortgage and regularly family expenses that increase and not the income. Hence, the family budget gets compromised.
That is why we need to make proper computations regarding how much money comes in and how much is needed to sustain the family’s quality of life.
How Much Do You Earn vs What Do You Need to Spend On
Two of the biggest items on the expense list would be the mortgage and the car loan. Both expenses may be under different institutions. For example, the mortage may be under a government housing office while the car loan may be under the bank when you purchased a brand new car.
For car paymensts, you will need the assistance of CarPaymentCalculator.net. The calculator on this site works with just about any scenario–whether is for the payments for a brand new car, a trade in, or a second-hand car.
The site has a feature that allows the user to link to a specific calculation with the results already filled in. The link appears below the calculated results when you press the calculation button. You can also factor in car insurance.
There are many things that make the site unique because it gives a lot of value to the users. For example, it has instantly appearing calculation results. It also has the ability to calculate car price that fits a monthly payment or loan payment amounts. Plus, there are printable amortization schedules available so you don’t miss your payments.
The site also provides additional calculators that have features, such as:
- -figuring your MPG (http://carpaymentcalculator.net/calcs/mpg.php)
- -calculating your fuel budget (http://carpaymentcalculator.net/calcs/gas-budget.php)
- – saving money with biweekly payments (http://carpaymentcalculator.net/calcs/biweekly.php)
While you are still paying off the mortgage and car loans in these difficult times, you might need to make some lifestyle adjustments. At first, it may not amount to much, but continuously cutting corners wherever you can will amount to something.
For instance, it was just so easy back then to slip out at midnight to the nearby convenience store to buy a tub of ice cream. Skipping this will not only make you save on gas but also keep diabetes at bay. You don’t need the extra sugar and calories, anyway.
In the past, a regular family may take several vacations a year. That may include local beach destinations and international travel. While these are all lovely things to do as we make memories with our children, we can also drown in debt if we are not too careful.
This may not necessarily mean cutting off everything that makes us feel good, but making creative adjustments to beat the inflation. Moreover, the proper calculation of finances will really guide you to stay afloat in these difficult times.