Savings Calculator
Calculate how your savings grow over time with regular deposits and compound interest. Set and track your savings goals with personalized projections.
Savings Details
High-yield savings accounts: 4-5%, CDs: 4-6%, Money market: 3-5%
Set a target amount to see when you'll reach your goal
Savings Projection
Goal Progress
Monthly Average
Types of Savings Accounts
High-Yield Savings
Best for emergency funds and short-term goals
Money Market Account
Higher rates with check-writing privileges
Certificate of Deposit
Highest rates but money is locked up
Common Savings Goals
Emergency Fund
Vacation Fund
Home Down Payment
New Car Fund
Smart Savings Tips
Automate Your Savings
Set up automatic transfers from checking to savings right after payday. This "pay yourself first" approach ensures consistent savings without willpower.
Start Small, Think Big
Even $25 per month adds up over time. The habit is more important than the amount. Increase your savings rate as your income grows or expenses decrease.
Use the 50/30/20 Rule
Allocate 50% of income to needs, 30% to wants, and 20% to savings and debt payments. This balanced approach ensures you save while still enjoying life.
Shop Around for Rates
Online banks often offer higher interest rates than traditional banks. Compare APYs regularly and switch if you find significantly better rates.
Separate Goals, Separate Accounts
Use different savings accounts for different goals (emergency fund, vacation, car). This prevents you from "borrowing" from one goal for another.
Take Advantage of Windfalls
Put tax refunds, bonuses, and gifts directly into savings. These unexpected amounts can significantly accelerate your progress.
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