Savings Plan Calculator
Set your savings goals and plan weekly/monthly/yearly deposit amounts. Consider interest rate effects and visualize savings growth curves along with the time needed to reach your goals.
Savings Goal Setting
Enter your savings goal, current savings, and regular deposit amount:
Frequently Asked Questions
The higher the annual interest rate, the more interest income your savings will earn, and the less time it will take to reach your savings goal. This calculator calculates interest using compound interest (compounded according to deposit frequency), which is closer to actual bank savings returns.
It is recommended to divide savings goals into short-term (within 1 year), medium-term (1-5 years), and long-term (over 5 years). The monthly deposit amount is recommended to be 20%-30% of after-tax income, while retaining 3-6 months of emergency funds.
50/30/20 is a common personal finance rule: 50% of income for needs, 30% for wants, and 20% for savings and investment. This calculator helps you plan the savings portion.