Calculate dollar amounts based on inflation.
Today's Dollars💰 is a Google Chrome extension that allows you to calculate the inflation-adjusted value of money with ease using the Consumer Price Index (CPI-U)*. With a user-friendly interface, it lets you compare the purchasing power of a specific amount across different years.
Features:
- Simple and intuitive interface 👌
- Enter any dollar amount, including decimals 💲
- Select the base year and target year from dropdown lists 📅
- Calculate the equivalent value based on the CPI inflation data 🔢
- Display the adjusted amount in today's dollars 💵
- Copy the result to your clipboard with just a single click 📄🖱️
- Reset your entries with the reset button at the top-left corner 🔄
- The extension remembers your selection! It saves your most recent choices, so when you come back, your previous selection is already there 🔖
- Light and Dark theme support 🌞🌙. Choose what's easy on your eyes and the extension will remember your preference!
- Gain insights into the changing value of money over time! 📈
How to Use:
1. Install the Today's Dollars extension from the Chrome Web Store.
2. Open the extension popup by clicking on the extension icon in the toolbar.
3. Enter the dollar amount in the "amount" field.
4. Select the base year and target year from the dropdown lists.
5. As you type or select years, the result amount will automatically be displayed.
6. Click the copy icon to quickly copy the result to your clipboard.
7. Choose between a light or a dark theme for the extension interface from the toggle on the top-right corner.
8. If you want to start a new calculation, click the reset icon at the top-left corner. It will clear your previous selections and amount, but keep your theme preference.
What does this calculation mean? 🤔
Let's use the example of $35 and the years 1979 and 2023. Due to inflation and changes in the cost of living, the amount of goods or services that $35 could buy in 1979 would require $146.89 in 2023 to purchase the same quantity of items. 😮
If we reverse the years in that calculation (2023 and 1979), what $35 could buy in 2023 would have been roughly equivalent to what $8.34 could buy in 1979. So even though you have $35, it's like having only $8.34 in terms of what you can actually buy with it. 💸
* Disclaimer:
1. Please note that the CPI Inflation Calculator uses historical CPI data to provide estimates, and the calculated values should be used as a general guide.
2. Today's Dollars is designed to calculate the inflation-adjusted value of amounts in USA dollars. Please note that the calculations and results are based on USA inflation data (CPI-U) from the Bureau of Labor Statistics, current up to May 2024. For accurate currency conversions and specific regional considerations, please consult appropriate financial sources or tools specific to your region.
