Inflation Calc

Have you noticed your money does not stretch as far as it used to? That is inflation: prices slowly rise over time, so the same dollar buys less. Use the free calculator below to see how much things could cost in the future and how much buying power your savings could lose.

Inflation Calculator »

How the calculator helps

Choose what you want to find out. You can see what an item or expense could cost in the future, what your money would be worth after a number of years, or what yearly inflation rate fits two prices you already know. Enter an amount, the number of years, and a yearly inflation rate, and the calculator shows the result right away. It also shows how many years it takes for prices to double at that rate, and a year-by-year table lays out how costs rise and buying power shrinks.

Ways to protect your money from inflation

• Plan with future prices in mind. A goal that costs $50,000 today will cost more by the time you reach it. Use the calculator to set a realistic target.
• Let your savings earn more than inflation. Cash that earns less than the inflation rate slowly loses buying power. Compare savings rates, CDs, and long-term investments.
• Aim for raises that keep up. If your pay does not rise at least as fast as prices, you are effectively earning less each year.
• Be careful with fixed costs. A fixed-rate loan can help over time, because you repay it with dollars that are worth less. Rent and many bills tend to rise.
• Review your budget each year. Prices for food, insurance, and housing change, so updating your numbers helps you stay on track.

Before you rely on the numbers

The calculator assumes the same inflation rate every year. In real life, inflation changes from year to year, and it affects different things differently. Housing, health care, and education have often risen faster than the overall average, while some goods get cheaper. Try several different rates to see a range of possible results.

Try it now

Enter your numbers and see what inflation could mean for you:

Inflation Calculator »

This calculator and article are for general information only and are not financial advice. Talk with a financial professional about your specific situation.

Debt Snowball vs Avalanche

If you have more than one debt, which one should you pay off first? Two popular strategies are the debt snowball and the debt avalanche, and each has its own strengths. Use the free calculator below to compare them side by side using your own numbers.

Debt Snowball vs. Avalanche Calculator »

How the calculator helps

List your debts with their balances, interest rates, and minimum payments, then enter the total you can pay toward debt each month. The calculator runs both strategies and shows when you would be debt-free, how much interest you would pay, and when each debt is paid off. As each debt is paid off, its payment rolls into the next one. You can see exactly how much time and money one method could save over the other.

Snowball vs. avalanche: what is the difference?

• The avalanche method. You pay the debt with the highest interest rate first. This usually costs the least in total interest and can get you out of debt sooner.
• The snowball method. You pay the smallest balance first. You clear debts quickly, and each win can help you stay motivated, even if it costs a little more in interest.
• Both start the same way. You pay the minimum on every debt and put all your extra money toward one target debt at a time.
• The best method is the one you stick with. If the numbers are close, pick the approach that keeps you going. If avalanche saves a lot, it may be worth the patience.
• Keep rolling payments forward. When a debt is gone, add its old payment to the next debt. This is what makes both methods speed up over time.

Before you rely on the numbers

The calculator assumes fixed interest rates, no new charges or fees, and the same total monthly payment until everything is paid off. Many credit cards have variable rates, so your real results may differ. Check your latest statements for each balance, rate, and minimum payment, and make sure your monthly amount covers all the minimums.

Try it now

Enter your debts and see which method fits your plan:

Debt Snowball vs. Avalanche »

This calculator and article are for general information only and are not financial advice. Talk with a financial professional about your specific situation.