Tmoney-Palm Detailed Description:

Tmoney-Palm provides financial planning functions covering loans, savings, retirement, insurance planning as well as other standard functions used in finance. However, the goal of Tmoney-Palm is to make the planning understandable and presentable using only a Palm-OS powered device. Tmoney focuses on the planning aspect of finances. It gives opportunity for plenty of "what if" scenarios for personal planning or planning with a client. It can beam the plan summary to another device or automatically store it into the Palm memo pad application.

The main functions provided are:

Loan Calculator

Savings Calculator

Withdrawal Calculator

The loan amortization tool can be used to examine each aspect of a loan including how much a loan will cost in monthly payments and total interest and other aspects. A table of payments and interest is provided for tracking the loan throughout the repayment period. Users may select the value to solve for: Payment, Loan Amount, Term (Years/Months), Payment Frequency, or Interest Rate.

The savings tool is one of the most flexible savings tools available. It can solve for the amount of every savings deposit, the future value, rate, or term. You may easily determine just how much money you need to save every payday to achieve a savings goal. It also has a unique optional inflation factor that lets you plan to increase your savings or investments as your income grows through the years. Includes a table to view each deposit and a graph to see the growth in the plan. Some of the capabilities include:

• Plan your Savings Deposits
• Future Value of regular deposits
• Future Value of a single deposit
• Present Value of a future amount
• Inflation factored savings plans

This is one of the favorite tools in this financial planning set. One of the more powerful features is the ability to account for inflation in a retirement plan. It lets you decide how much money you need to start withdrawing from an interest-earning account, but then applies an inflation rate to help you determine the funding needed to increase your monthly withdrawals annually for the term of the plan.

A users guide is available in PDF format at tmoney-palm.com. The guide provides step-by-step examples on how to utilize each function.

The palm version of Tmoney was enhanced with more power and features. Users of the original Tmoney will appreciate the extended features as well as the elegant simplicity of the original concepts retained in TMONEY-PALM along with the additional features.