The Complete Guide to Financial Calculators

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The Complete Guide to Financial Calculators

The most popular form of calculator available is fairly basic and can handle simple everyday calculations. But for some, these basic functions aren’t enough and more advanced features are required. Professionals and students will understand the value in using a financial calculator and its usefulness in determining economic calculations. Financial calculators have special keys that make it possible to work out everything from taxes to interest rates.

Not every financial calculator comes with the same functions. The lack of a standardised option means that shoppers need to know what they require before buying one. When it comes to financial calculators shoppers should be sure to stop by eBay's deals section to see what is currently on offer.

Why Choose a Financial Calculator?

The whole appeal of a financial calculator centres on its ability to execute commands and formulas that basic models just can’t. They have prominent uses in the world of accounting, as they are useful for loan, mortgage, interest and commerce-related calculations. Financial calculators also have their use in the realms of education, as they are often considered mandatory for certain mathematics classes due to their ability to handle statistics.

Purposes

Even for the most basic calculations a financial calculator can be considered useful. They have broken down calculations that once took hours on end into simple key commands. Financial calculators make for a great time saver and some can even be programmed with custom numbers and formulas. The most common uses for a financial calculator include.

· Understanding both saving and financials goals.

· Calculating mortgage and loan repayments.

· Calculating interest rates.

· Calculating income and council tax rates.

· Formulating and predicting fuel costs.

· Learning how to reduce bill and credit card payments.

Keys

Financial calculators have special keys that aren’t found on a basic model. These keys may seem daunting to new users, but they shouldn’t be. In most instances they simply stand for an abbreviated version of an already known form of calculation. When it comes to special keys, expect to find one or more of the following on a financial calculator:

Key

Description

I

Interest and return generated.

N

Number of payments.

PMT

Payment.

FV

Future or potential future value.

PV

Present value or current loan amount.

Most financial calculators will have the majority of these functions and those that are more advanced may have more functions. Those who need a calculator for basic sums may not necessarily get much use out of specialised keys.

Features

There is very little in the world of sums and calculations that a fully equipped financial calculator can’t handle. They can control everything, from basic adding and subtraction to full-on extended calculations. However, the actual calculator element isn’t the only feature to consider when making a purchase. Some calculators are heavier than others and have different designs. Take the time to look for a calculator that has all the features you require.

Feature

Description

Multi-line Display

Allows users to handle two or more sets of calculations separately at one time.

10-digit Display

Any financial calculator should be able to handle (at minimum) a ten-digit calculation.

Protective Case

A hard-case helps protect the calculator from damage. Perfect for those who use a calculator on the go.

Instruction Booklet

It sounds simple but a financial calculator should never be purchased if it doesn’t come with an instruction booklet. They are needed, especially if you’re a novice user.

Brands

Depending on the brand and model, a financial calculator can be either simple or complex to operate correctly. Customers will want a model that fulfills all that they require and be appropriate for their skill set. In some instances, a student or finance professional may require something specific. It is advised that shoppers take a look at the following brands in order to find something suitable.

· Texas Instruments

· Victor

· Sharp

· Hewlett-Packard (HP)

· Canon

· Casio

· Catrix

· Astrum

· Citizen

· Flair

· Claro

· Orpat

The consensus from these brands ranges is that a financial calculator can now be produced without it being neither bulky nor expensive. Shoppers should be able to pick up a basic financial calculator for well under $20; however, if your budget is larger there are other options. For those looking for the best of the best in financial calculators, check out any model that comes complete with every added feature mentioned in this guide.

Tips

Once someone has got a feel for how to use a financial calculator correctly, it becomes almost second nature and an item that they can’t live without. Due to their complex nature it can take a bit of time to get used to using one, so don’t get discouraged if you find it a little difficult in the early days. However, there are a few hints and tips that can help users along the way.

· Don’t ignore the contents of the instruction manual, it is there for a reason and is helpful in guiding those unfamiliar with financial calculators.

· Adjust the units settings to something you feel comfortable with, don’t stick with the factory issue settings if it isn’t working out properly.

· Alter the display to include more places to the decimal point if you are conducting more advanced calculations. To some, the two place standard simply isn’t enough.

· Set-up and program a financial calculator properly, using one that isn’t done so can lead to errors and miscalculations.

· Utilise the shortcut functions to the best of their ability to save time.

· Always handle a financial calculator with care, as they are known for their fragile nature and inability to absorb impact.

How to Buy a Financial Calculator on eBay

It doesn’t matter whether a shopper is working on homework, calculating savings or handling a high-end investment account, they are sure to get great use out of a financial calculator. Thankfully, this once specialist item can now be acquired at a great price from the comfort of the home. People can find an array of both new and used options on eBay, with many new items being listed for sale around the clock.

Once someone has created a new eBay account, log-on to the homepage and select the electronics category, then calculators. Start browsing through the pages and pages of financial calculator auction listings in order to find something suitable.

If browsing isn’t something that is of interest, shoppers can get to the item they want quicker if they already know the name of the calculator model. For example, to find Casio calculators, type ‘Casio calculator’ into the keyword search bar. This will then bring up all listings that are related to that search term. For more tips on how to use eBay’s search functions correctly, read what has been posted on eBay’s dedicated search tips page.

Conclusion

Financial calculators are useful for anyone and everyone; this is specifically true in the case of financial professionals and students. They can help navigate people through the tricky world of complex sums and equations. From loan repayments to interest calculation, a financial calculator can handle it all with ease, and makes doing such sums an effortless task.

To find the perfect financial calculator, log-on to eBay and take a look at their deals and special offers. With such a wide variety available, there is no doubt that finding one that’s suitable is only a click or two away with eBay.

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