Financial calculator: Which are the best in 2021?
Today we are going to talk about a very useful office tool for anyone who works with numbers: the financial calculator. A product that has several details that deserves special attention before buying it.
In addition to being indispensable for certain professional areas, financial calculators are an important tool for students as well.
At ReviewBox Brasil, we have organized a guide for you to better understand which are the most suitable models according to your objective. Especially because, normally, a financial calculator is an item that accompanies people for a long time, and therefore, choosing well is fundamental.
First, the most important
- Among the advantages of a financial calculator, is its ease in allowing a person to make calculations related to their personal finances.
- Before purchasing a calculator, it is important to know what is the difference between a scientific and a financial calculator.
- Memory, display, battery, functions, keyboard, resistance, graphics, weight and dimensions and design are the main characteristics that must be analyzed before purchasing such equipment.
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Best financial calculators: Our recommendations
As soon as an exact student enters college, one of the first needs is a financial calculator. This equipment will accompany you throughout the study period and especially when entering the job market. So, it is worth investing in a quality calculator. Check out the best in the market on this list:
- HP 12C Financial Calculator
- Casio FC-200V Financial Calculator
- Casio FC-100V Financial Calculator
They may even have an outdated design when we think about technology, but their functionality is unquestionable. Present in most offices, a financial calculator makes life easier for those who work directly with calculations.
In this guide, we will provide you with everything you need to know before choosing yours.
What are financial calculators and what are their advantages and disadvantages?
Financial calculators arose to make life easier for those who work in the financial sector, because in the past, when they did not exist, it was difficult to make some calculations quickly, such as the value of a loan, for example.
Most problems that can be solved with a financial calculator involve questions of time versus money, such as how much money an investor will have in a given number of years when investing a certain amount.
It also resolves issues related to interest rates, cash flow, markup, among others. To calculate some statistical values they are also excellent, as it is possible to make calculations in a matter of minutes that would take a long time to solve.
In addition, the financial calculator is also great for managing your accounts, whether they are from a company you own, or personal accounting. This way, you can have more control over your finances.
Many people often argue that they do not use financial calculators, since Excel already performs these calculations, which is true. But the rivalry between Excel and financial calculators is a matter of personal taste, everyone likes to do their calculations in a different way.
One of the factors that some people dislike is that it can take some time before you learn their different functions. There are several manuals available on the Internet. As we are in the age of technology, the interface of some of them may seem outdated.
What to pay attention to: Financial or scientific calculator?
Financial calculators can do interest rate calculations within seconds, and this saves a lot of time compared to other calculators, which are not specific to this purpose.
As for the scientific calculators are more linked to the areas of science, engineering and mathematics, and so are not specifically programmed to solve financial problems.
However, this does not mean that they cannot do this, as they are able to solve several financial problems. The only difference is that a scientific calculator will take longer to solve the calculations. Scientific calculators are specific for solving problems of scientific notation, trigonometry, exponential functions and logarithms.
Does a financial calculator have a graph?
Some more technological financial calculators have graphs to make calculations such as growth estimates, for example. Those who use this type of financial calculators the most are accountants, who constantly have to deal with this type of calculation in their daily lives.
This type of calculator is also called a graphing calculator, but many of them have the same functions as a financial calculator. They are usually more expensive, but they are excellent for those who need to use more functions than what is offered in ordinary financial calculators.
Usually their display is large, allowing to see a much larger number of digits in a number. In addition, their display also shows graphs and complete algebraic functions.
One of the main disadvantages of this type of calculator is that they are not normally allowed in tests, as many of them have an alphabetical keyboard, which allows students to paste easily. Another disadvantage is that they have a greater number of buttons, which makes them more complicated to use.
The calculators that we list in this article cost between R $ 120 and R $ 430, values that are within the price range that you normally pay on a financial calculator.
There is also the possibility to buy used models, which end up being cheaper than new ones. For around R $ 50 to R $ 100 it is possible to buy a good used financial calculator.
But try to get details about how long the equipment is already in use. The investment may not pay off if the calculator breaks down soon. Be sure to check the seller’s ratings to see if he is really reliable.
Where to buy?
The place where you will find the greatest variety of financial calculators is on the Internet, especially on the following websites:
There is also the possibility to personally go to one of these stores to find your financial calculator. If you want to buy used equipment, consult sites such as Mercado Livre or OLX, there you will find several vendors selling second-hand products.
Purchasing criteria: Factors for comparing financial calculator models
There are certain features to pay attention to before choosing a financial calculator, which are as follows:
- Weight and dimensions
These factors are very important, and will be explained more fully below.
Memory is a very important part of a financial calculator, as it is possible to store many numbers simultaneously. This way, you can do other calculations and return to the stored number later.
People who always work with the same numbers, for example, can save these values to always have them at hand and make calculations faster.
In addition, it is much easier to make larger calculations too, as you can use many functions simultaneously and always return to the stored numbers. So, before choosing a financial calculator, check how many numbers can be stored in its memory.
For you to be able to work in the most comfortable way possible with your financial calculator, it must have a display with the necessary dimensions so that your view does not get tired.
In addition, it is important to know the number of digits that fit on the display. After all, for statistical calculations, for example, you will need a good space on the display. Therefore, the size of the display is not so important in a financial calculator, but the number of digits that appear on the screen.
A calculator usually shows a line with the numbers of the calculation and another line with the functions that are activated on the display. Some of them show up to four lines on the display, which assumes that they offer greater possibility of doing operations.
When doing your research, check the number of digits that they can show and the number of lines that can be viewed, as this is information that normally appears in product descriptions. Also consider the number of digits that you normally need to use on a daily basis, so that you can make a better choice.
This is a fundamental aspect of a calculator for all other elements to work. Most models of financial calculators have a built-in battery, which usually lasts for many years.
Some of them even include batteries that last almost 20,000 consecutive hours of use, which means that you won’t have to worry about it for a long time. When researching the financial calculator you want to buy, be sure to check this aspect carefully, and see if the duration is long.
Some models of financial calculators incorporate a rechargeable battery powered by solar energy, which helps to extend the battery life.
What usually scares people about financial calculators is the number of buttons they have. Many keys can have more than one function, so there are several things that must be learned when using equipment like this.
Some functions present in the calculators are the following:
- Cleaning the display and memory
- Decimal notation
- Power and root
- Positive and negative number
There are several courses, including free ones, that teach you how to deal with a financial calculator. There are still calculators that accept other more advanced functions, such as programming, for example. Thus, they can perform differential, integral calculations or work with matrices, although this is a more common option for scientific and graphing calculators.
The keyboard must be observed before you purchase a financial calculator, and it is worth checking how many keys it has and whether they are well identified.
It is also important to read the reviews of other users to see if the keyboard does not usually wear out over time and if the numbers do not start to disappear. His design is also important, through keys that provide comfort and that have a soft touch.
A calculator must have resistance against any falls on the floor, or blows that it may suffer. It is no use having a model that is advanced in its functions, but fragile in its material.
So make sure you have a model that is robust enough not to spoil on the first fall. It also means that it must have a material that offers durability. Generally, the material from which these calculators are made is plastic, and will usually last for many years.
Weight and dimensions
Regardless of whether you use the product in the office or at home, the weight of a financial calculator is important in deciding whether you want to buy it or not.
Currently most models are more compact, but there are still bigger and heavier options, so check these factors also in the product description.
For certain functions, it may be useful to have a slightly heavier financial calculator, but make sure it is really worth it for you. Some people leave theirs in their bags so they can use them at the office, at home or at college, so a small, lightweight financial calculator can be a good alternative.
As we mentioned, some financial calculators have a more old-fashioned design, some would even say that they are “ugly”. The truth is that it is a very personal matter, but today there are several types of good and efficient financial calculators, with a more elegant design.
The design does not just say about “beauty”, but mainly about the ease it provides when using it. Notice if you have large and separate buttons, if the display is a good size, etc.