“The love of money is the root of all evil” – often misquoted as “money is the root of all evil”, is one of those apparent truism in Western culture that needs a shakeup.
It seems to me, that a more accurate statement might be – the lack of money is the root of all evil. Or, to put it in a more reasonable context; the lack of money adds substantially to a person’s anxiety index.
At a personal level, I’ve certainly observed that a lack of understanding of money; how to acquire it legitimately, (wages, salaries, investments, etc.); how to hold on to it; how to manage it; is a source of great discomfort in many peoples’ lives.
I think Charles Dickens said it best, when he made the statement –
“Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery.”
Early in my career as a young Banker, my primary responsibility was personal and business lending. It didn’t take me long to recognize that most people had poor money management skills, and that many failed to grasp the most important consequence of debt – it leads directly to less disposable income.
Economic indicators continue to show, that personal disposable income has taken a nosedive in recent years. Nevertheless, I think it can be safely said that now, more than ever, servicing and reducing debt, in the most efficient manner, is critical to an individual’s and a family’s financial health. So, cost effectiveness in every dollar spent, has taken on a new importance.
Recently, I was invited to take part in testing a private Beta of CalcMoolator. A free web based service that offers a series of financial calculators (30 currently, with hundreds more in development), designed to make it simple to calculate costs, compare financial options, make educated financial decisions and most importantly – help users save money.
Dan Khasis, founder of the company, speaking on the benefits of Calcmoolator, summed it up nicely when he said:
“Fairly often, people will make financial decisions based on their emotions, rather than facts, mainly because they don’t have the financial knowledge or tools to adequately weigh their options.
Sometimes results are just too complicated to understand, but Calcmoolator gives users access to highly sophisticated financial tools in a nicely packaged application that is simple to use and interpret.”
One of the things I’ve learned in my life travels is – financial advisors are rarely financial wizards; they simply have access to the right tools. You can gain access to similar tools using Calcmoolator – the tools you need to evaluate the most productive ways to spend your money.
Calcmoolator is available for free on the Web
No registration required
No software to install
Easy-to-use ( no need to be a math wizard)
A simple user interface
More than 30 calculators with more on the way
Each calculator is powered by mathematical formulas developed by a team of mathematicians.
Available for the iPad & iPhone (download required)
The following screen shot illustrates nicely, just how easy it is to use a Calculator – no degree in mathematics required. 🙂
Auto Lease vs. Buy
House Rent vs. Buy
Auto Loan Estimate
Mortgage Payment Estimate
Pay Off My CC Debt Sooner
Spending Worksheet
Here’s a fact for you to ponder – the art is not in making money, but in keeping it. I’m attracted to any tool that can help make it easier for me to do that, and having tested Calcmoolator, I think it could make it easier for you, as well.
As of today (June 18, 2010), Calcmoolator is out of Beta, and is now available to the general public, so drop by the site, and see what you think.
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