Financial tools and calculators on ThinkMoney.com

We are, as they say, the 'internet generation'. These days, a good number of us spend a good part of our lives online - and the internet is perhaps the most widely used resource when people are looking for information and guidance.

Think Money offer a range of practical and user-friendly financial tools and calculators that could help you make up your mind when you're trying to figure out 'the next step'. Here's a look at some of the tools we offer.

Mortgage calculator

Taking on a mortgage is a big financial commitment, and if you can't keep up with your payments, your home might end up being repossessed. It's important to do your research thoroughly to find out what the best mortgage deal for you might be.

Think Money's mortgage calculator can help you to work out what your monthly mortgage repayments might be, according to how much you want to borrow, what kind of mortgage term you're considering, and the annual interest rate you hope to secure.

The mortgage calculator can let you see how all these factors may affect your mortgage repayments. However, as with all online tools like this, remember it's designed to provide a rough estimation only, and can't tell you what kind of quote you'll get if/when you actually apply for a mortgage.

Debt consolidation calculator

This tool works out how much you might have to repay each month if you took out a debt consolidation loan.

• Step 1: enter the size of the loan you'd want to take out, according to the amount of debt you're thinking of consolidating - e.g. if you have a credit card debt of £2,000 and a £3,000 overdraft, you'd need to take out a £5,000 debt consolidation loan to repay them both.
• Step 2: enter the length of the repayment period you're considering (the more slowly you repay your loan, the more interest you'll pay in total).
• Step 3: adjust the slider to see what effect different interest rates would have (the actual interest rate you're offered will vary according to your circumstances).

The end result? You'll get an indication of how much your monthly repayments could be if you consolidated your debts with a loan.

Debt test

If you're having problems repaying your debts, trying to find the best solution can sometimes seem overwhelming, particularly as different situations require very different approaches - and those approaches can come with very different 'pros and cons'.

Our 30-second debt test could help you to find the most suitable debt solution for your circumstances. All you have to do is enter a few details - such as the total amount of debt you have, where you live and what your employment status is - and you'll get an instant recommendation on the best way out of debt for you.

Again, this is just an indication. There are many factors that need to be taken into account before you can know which approach you should take to your debts. You should always speak to a professional debt adviser first before making any firm decisions about your finances.

Tags: tools, finance tools financial tools, calculators, debt, mortgage, debt calculator, mortgage calculator, debt consolidation calculator

Fees payable when continuing service is provided. Repaying debt over a longer period may increase the total amount to be repaid. Calls are recorded and are usually free from UK landlines. Mobile phone users may be charged and should check with their service provider. Cards are provided by third parties and are subject to eligibility, status and terms and conditions. Applicants must be UK residents aged 18 or over.