Use this simple Savings Calculator to see if you’re on track to reach your money goals, or if you need to change your money habits or boost your income. Remember, financial goals are life goals! Set your intention now to create the life that you want!
Play with your own numbers in the Savings Calculator below and discover the magic of making your money work FOR you, instead of the other way around! Here’s all you need to do…it’s simple!
- Invested Amount-Enter your current savings into the first line of the Savings Calculator
- Enter the amount you’ll add to this goal and choose the frequency, such as monthly
- Interest Rate: Enter how much your money will grow each year based on your investment goals
- Choose the frequency with which your account will have interest compounded; most savings are compounded daily and paid monthly
- Number of Years-Enter the number of years until you’ll use this money for your goal
- Press calculate and VIOLA! You know just how much your money will grow based on your choices.
Remember: This is a very basic Savings Calculator. Taxes, inflation and additional income sources are other factors I teach about in my coaching programs but this is a great basic calculator for everyone that will give you powerful insight to reach your life and financial goals!
Your results from this quick exercise will give you clarity; it will either get you motivated to increase your income and grow your money, OR help you relax about enjoying your money.
Note: After much research to make sure we provide an accurate savings calculator, we have checked it against various online calculators. We saw a tiny variation with the Bankrate calculator, which I am assuming is due to the compounding frequency.