Should I Buy It?
Free App
Advertisements
About Should I Buy It?
Welcome to the app that will make you a millionaire!
Personal finance gurus love to talk about "The Latte Factor", the notion that all your money problems could be solved if you just stop buying coffee each morning! If only it were that easy... or is it?
This app shows you the power of compounding interest over time, and just exactly how much money you could have in the bank by forgoing your morning coffee. Simply enter in the cost of an item you are considering purchase, along with the frequency of your purchase. Hit calculate, and a number will be displayed, which shows you how much money you would have after a period of time, had you invested the money instead of making a purchase.
By default, this app calculates compound interest over a period of 10 years, as thinking 10 years out is a good habit to get in. The interest rate is set to 7%, as this is the average return of a low risk index fund, such as a fund based on the S&P 500. Both length of time and interest rate can be modified in Settings.
Start using this app to check your purchases, and you can start saving money in no time!
Personal finance gurus love to talk about "The Latte Factor", the notion that all your money problems could be solved if you just stop buying coffee each morning! If only it were that easy... or is it?
This app shows you the power of compounding interest over time, and just exactly how much money you could have in the bank by forgoing your morning coffee. Simply enter in the cost of an item you are considering purchase, along with the frequency of your purchase. Hit calculate, and a number will be displayed, which shows you how much money you would have after a period of time, had you invested the money instead of making a purchase.
By default, this app calculates compound interest over a period of 10 years, as thinking 10 years out is a good habit to get in. The interest rate is set to 7%, as this is the average return of a low risk index fund, such as a fund based on the S&P 500. Both length of time and interest rate can be modified in Settings.
Start using this app to check your purchases, and you can start saving money in no time!
All Application Badges
Free
downl.
downl.
Android
2.3.3+
2.3.3+
Bug
buster
buster
Android app
App History & Updates
What's Changed
1.1.0
* Now available in Spanish!
* Improved accessibility features
* Persist values when navigating to other pages
1.1.0
* Now available in Spanish!
* Improved accessibility features
* Persist values when navigating to other pages
More downloads Should I Buy It? reached 1 000 - 5 000 downloads
Version update Should I Buy It? was updated to version 1.1.0
More downloads Should I Buy It? reached 500 - 1 000 downloads
More downloads Should I Buy It? reached 100 - 500 downloads
What are users saying about Should I Buy It?
C
by C####:
by C####:
Very cool app. No equals sign though? Is there a way for entering calculations such as a $3.75 latte 4 times a week?
C
by C####:
by C####:
io15 rocks ;)
K
by K####:
by K####:
Nice little app. I tried setting Time to 1 YRS but it silently enforces 10 YRS. Could be a good idea to make the "After 10 years..." tap sensitive to alter the duration - maybe use a SeekBar for duration on the main page so that you can interactively see the effect of compound interest growth as you drag the seekbar.
L
by L####:
by L####:
Great job, a wonderful app. You're awesome, just saying
K
by K####:
by K####:
io15 rocks ;)
K
by K####:
by K####:
Nice, simple, to the point. I like it. Except I'm not a fan of interest but I guess the point is valid... sometimes investing is a better option than spending!
K
by K####:
by K####:
Fun app! Sometimes I think that if all our choices had their real costs attached to them, we would make very different decisions.
S
by S####:
by S####:
It's amazing how small amounts of money can add up to a lot with compound interest. This app has really opened my eyes to the better choices I could be making. Great job on the app!
Z
by Z####:
by Z####:
Now I know the true cost of private school tuition.
Z
by Z####:
by Z####:
Very cool app. No equals sign though? Is there a way for entering calculations such as a $3.75 latte 4 times a week?
Z
by Z####:
by Z####:
Perfect for time value of money calculations on the fly.
U
by U####:
by U####:
Couldn't find a better app out there for a quick calculation and encouragement to save money. And I love that it requires no permissions! Very cool
U
by U####:
by U####:
The only downside to this app is that if you leave it on your homescreen you might soon find yourself fasting, living a monastic existence atop your growing mountain of cold, hard cash.
U
by U####:
by U####:
I do this math every time I'm considering a purchase, and this app makes it a lot faster!
U
by U####:
by U####:
Nice! A feature request would be to seperate principal and interest amounts. Thanks for making this!
O
by O####:
by O####:
Very mustachian,variables appear unknown though,simple and straightforward
P
by P####:
by P####:
I hate this
by Y####:
Great app. Simple, and it works!