Finance
Savings Calculator: Plan Savings Goals
Calculate savings growth with regular deposits and compound interest.
Project savings growth with regular contributions.
Formula
FV = PMT × [((1+r)^n - 1) / r].
Power of Saving
$200/month at 6% for 30 years = ~$200K. Contributions: $72K. Interest: $128K.
Strategies
- Automate: Transfer on payday
- Start small: $25/week adds up
- Increase gradually: 1% more per quarter
- High-yield: 4-5% APY online
Emergency Fund
3-6 months of expenses in accessible savings.
Frequently Asked Questions
How much to save?
50/30/20 rule: 20% of income.
Where to keep savings?
Emergency: HYSA. Short-term: CDs. Long-term: investments.
HYSA how?
Online banks, lower overhead, higher rates. FDIC insured $250K.