Using A Structured Settlement Calculator

Structured Settlement Calculator

Using A Structured Settlement Calculator

A Structured Settlements Calculator can assist you in determining how much money a settlement payment will cost you each month. Generally speaking, all you need to do is fill out a small form with information from your particular case. Typically, the first information required to run a settlement calculator through a spreadsheet template are: Amount Of Each Payment Made.

Due Date Of Each Payment Made. How frequently the Structured Settlements Payment is made (Every month, Quarterly, Annually etc.) – this is also known as the frequency with which payments are made to the person or entity you are getting the settlement from, or a party claiming they received a claim for a loss they have suffered as a result of your injury.

Total Cost Of All Structured Settlements. This is the sum total of all payments you have received since the injury. It’s helpful if you have several payments, since it gives you an idea of the amount of money you should expect to receive each month.

Annual Percentage Rate (APR). The percentage of payments you are expected to receive per month over the course of your life. If you have a mortgage, this is used to determine how much your payments are going to be over time. For instance, if you own a home and make monthly payments, your payment will be more or less the same each year.

Annual Percentage Rate (APR) Formula. Here is the basic formula for calculating APRs for different types of settlements. The formulas are the same as for any other type of settlement payment.

Amount Paid/No Payments. You should also include this information, as well as whether the payments have been made monthly, weekly, quarterly, bimonthly or annually. If they are periodic, you need to indicate how many payments are given away each month – the number of years, quarters or months.

Total of All Settlements. Some people who received a structured settlement might be entitled to a lump sum cash payout, and this amount will be calculated and entered into a spreadsheet so that you can compare how much a lump sum would be compared to other possible payment types.

Other benefits of a structured settlement calculator is that it can help you make projections about your future finances. If you anticipate receiving a lump sum payment every year, a good structured settlement calculator will also provide estimates for future retirement, medical expenses and even rental property tax (RPT).

In the end, there is really no reason not to use a structured settlement calculator when figuring out how much money to receive as a settlement. As long as you take the time to learn all the options available, you can benefit from the many different financial calculators available to you.