We're excited to introduce you to our latest suite of financial resources designed to empower you and your clients as they embark on financial security. Whether you're aiming to improving your client’s savings habits, help them tackle debt, or plan for a brighter financial future, our new tools are here to support your clients every step of the way.
To access our Calculators, locate the Calculators tab after logging into SHARE:
Financial Tune-Up Exercise:
Help your client take control of their finances with our Financial Tune-Up exercise. This questionnaire is specifically crafted to help you assess your current financial habits and identify areas for improvement. By answering a series of insightful questions, you’ll get a quick sentiment of your client’s financial situation.
Debt Payoff Planner:
Is your client burdened by debt and unsure where to start? With this tool, you can create a personalized debt repayment plan tailored to their unique financial situation. Simply input their debts, interest rates, and monthly payments, and watch as the planner generates a strategic roadmap towards becoming debt-free.
First, you'll add in the various debts your client has and you'll see the total monthly payments auto-calculate.
Next, you'll determine how much your client is able to put towards the debts monthly.
(Keep in mind, the monthly payment amount needs to be greater than or equal to the amount of monthly payments due)
Last, select the "Strategy" for the payoff:
- Avalanche (Highest interest rate paid first)
- Snowball (Lowest balance first)
- Cash flow (Highest minimum payment first)
- Custom (you decide order)
and then select
After calculating, you will see a payment plan generated:
Based on the payment plan, it will also show a timeline of milestones:
Addtionally, you can add in additional payments beyond your monthly and extra payments by adding those in manually with the pencil icon:
Please don't forget to download an Excel file after you've finished the exercise with your client. This should be used for check-ins and follow-ups to ensure they're staying on track:
Savings Calculator:
Planning for the future starts with smart savings habits. Our Savings Calculator makes it easy to set and achieve your savings goals. Whether you're saving for a security deposit, buying a car, or other upcoming expenses, this tool provides valuable insights into how your savings can grow over time and what making steady, sustainable contributions can grow into in a short amount of time.
In the scenario below we start to see how even a savings interest rate of 1% will accrue interest and will have your client's investment earn money for them:
As you see below, the longer the money stays in the account, the greater interest is accrued for the investment. The blue section is what your client invested, and the red is the interest accrued:
Addtionally, you can add in extra deposits beyond your monthly contribution amount by adding those in manually with the pencil icon:
Please don't forget to download an Excel file after you've finished the exercise with your client. This should be used for check-ins and follow-ups to ensure they're staying on track:
How to Access:
These resources are readily available to our customers through our online SHARE platform. Simply, log in to your account and navigate to the "Calculators Tab" to access these resources.
If you have any questions or need assistance, don't hesitate to reach out to our dedicated support team @ techsupport@change-machine.org. We're here to help you every step of the way!