If you're thinking about borrowing money for any purpose--home mortgage, auto loan, boat loan, etc.--here's a great tool to help with your personal finances. This Catapult Garage tool is something you need in your arsenal as you approach the loan. Just enter the amount of money you're thinking of borrowing, the interest rate you're looking at, and the number of monthly payments you expect to make to repay the loan. The tool will give you your monthly payment amount and show you how much interest you'll pay over the life of the loan. See what a quarter-percent difference makes to you. See how a 15, 20 or 30-year loan compares. Know what you're getting into.

Run the full schedule to get a month-by-month look at the loan. Then analyze what happens if you pay it off more quickly--say by making an extra loan payment each year or by paying an extra amount each month. Or both!

This tool can literally help you save tens of thousands of dollars on a home or other large loan.