College is a time of independent growth and learning, and while this mainly pertains to academia and social experiences, it also applies to personal finance. Yet the independence that’s so critical to developing mature money management skills does not necessary call for the refusal of tools and resources as your disposal. This is especially the case when such tools and resources happen to be free, such as the following five online calculators every college student ought to have bookmarked:Student Loan Repayment Calculator
This one is a no-brainer. Before agreeing to take out any sort of student loan in order to attend classes, use this calculator to get an idea as to what the long-term ramifications are. This is especially useful when weighing the pros and cons of various federal loan programs.
Cost-of-Living Calculator
Going to study in the big city or in a coasta resort town sounds like a dream come true, but can you afford the cost-of-living in these areas? While such calculators aren’t 100% reliable for students subject to dorm life courtesy of the College Network, cost-of-living estimators put the price of a loaf of bread in perspective.
Credit Card Repayment Calculator
The average college graduate in the United States racks up thousands of dollars in credit card upon earning their diploma. If you’re on the path to such circumstances, it’s critical you map out a credit card repayment plan as soon as possible to pay the least amount of interest.
Fuel Economy Comparison Calculator
Many people own their first car in college. In order to find the most fuel efficient vehicle in your price range, look up your options in the government’s online fuel economy catalog. With gas expected to climb over $5.00 a gallon this year, few students can afford to drive gas guzzlers.
Retirement Calculator
Retirement is undoubtedly one of the last things on the mind of a college student. But for the sake of your post-graduation self, it’s important you bookmark a retirement calculator and keep the subject in the forefront of your thinking as much as possible.
While those attending college ought to be learning how to handle the ins and outs of personal finance on their own, that doesn’t mean they shouldn’t take advantage of the usefulness of free online calculators. They put money in a perspective most college students are otherwise too preoccupied to see until it’s too late.
