The Impact of Installment Purchases on your Financial Life
Calculating how much 500 thousand will yield in savings can be a very simple task, but it requires attention to detail.
Savings is one of the most popular investment options in Brazil, as it is safe and has daily liquidity.
However, it is important to understand how the yield works to know if it is the best option for your money.
In this article, we will teach you how to calculate savings income and show you some tools that can help you with this task.
Calculating savings income is quite simple. Currently, savings have a yield of 70% of the Selic Rate plus the Reference Rate (TR), which is at 0.
In 2021, the Selic Rate is 2.00% per year. Therefore, the savings yield today is 70% of 2%, that is, 1.4% per year.
So, to calculate the income of 500 thousand in savings, simply multiply the value by the income:
500.000 * 1,4% = 7.000.
Therefore, with 500 thousand in savings, the income will be 7,000 reais per year.
It is worth mentioning that savings are subject to Income Tax, which varies according to the time the money has been invested.
Therefore, it is important to pay attention to this detail when calculating the real return on your investment.
There are several online tools that can help you calculate your savings income quickly and accurately.
One of them is the Citizen Calculator website, developed by the Central Bank of Brazil.
On this website, it is possible to simulate the savings income according to the amount invested and the investment time.
Furthermore, there are several personal finance applications that offer the function of calculating investment income, such as Mobills and GuiaBolso.
– Citizen Calculator:
The Citizen Calculator is a very useful tool for those looking to calculate investment income in a simple and practical way.
However, the site can be a little confusing for those who are not used to dealing with financial calculations.
Additionally, some people report difficulties accessing the site at peak times. Overall, Citizen Calculator receives a positive rating, with an average of 4 stars in app stores.
- Furniture:
O Mobiles is a very complete personal finance application, which offers the function of calculating the return on investments, including savings.
Many users praise the app's user-friendly interface and ease of use.
However, some people report data syncing issues between devices.
Mobills' rating is very positive, with an average of 4.5 stars in app stores.
– PocketGuide:
GuiaBolso is another personal finance application that offers the function of calculating investment income, including savings.
Many users praise the ease of categorizing expenses and the financial control offered by the application. However, some people report slow loading of information.
GuiaBolso also receives a positive rating, with an average of 4 stars in app stores.
Calculating savings income can be a simple task, but it requires attention to detail. With the right tools, it is possible to make this calculation quickly and accurately.
It is important to be aware of the real return on the investment, after taxes and fees have been taken into account.
Furthermore, it is essential to compare the profitability of savings with other investment options, to choose the best option for your money.
By using the tools mentioned, it is possible to have a clear view of savings income and make the best financial decisions.
