The Savings Calculator helps users calculate how much their savings can grow over time. By factoring in regular deposits and interest rates, users can plan financial goals more effectively. This tool supports smart saving habits and long-term planning.
Building a 6-month emergency fund
Long-term retirement planning
Saving for a home purchase
Input the amount you're starting with. This can be $0 if you're starting fresh.
Enter how much you plan to save each month. Consistency is key to building wealth.
Use your bank's APY or expected investment return. Conservative estimates work best.
Set your savings goal timeline. Longer periods show the power of compound interest.
The calculator provides accurate projections based on your inputs. However, actual returns may vary due to market conditions, fees, and changing interest rates.
More frequent compounding (monthly vs annually) means interest is calculated and added more often, resulting in slightly higher returns over time.
This calculator shows nominal returns. For real purchasing power, subtract the inflation rate (typically 2-3%) from your interest rate.
High-yield savings accounts: 1-5%, CDs: 2-6%, Conservative investments: 4-7%, Stock market average: 7-10%. Use conservative estimates for planning.