Savings Calculator
Find future value, monthly savings needed, or time to reach your goal
7.0%
10 yrs
Future value
—
Total deposited
—
Interest earned
—
Return on savings
—
Effective annual rate
—
Savings Tips
Pay yourself first
Set up an automatic transfer to your savings account on the same day you receive your salary. Treating savings as a non-negotiable expense is the most effective way to build wealth consistently.
The Rule of 72
Divide 72 by your annual interest rate to find how many years it takes to double your money. At 7% interest, your money doubles in ~10 years. At 10%, it doubles in ~7 years.
High-yield savings vs investing
For goals within 3 years, keep savings in a high-yield savings account or short-term FD for safety. For goals 5+ years away, consider equity mutual funds or index funds for higher potential returns.