See what regular saving builds up to, and how long a goal will take.
Added every month
Annual rate
Savings balance
$19,016.74
$17,000.00 paid in, $2,016.74 interest
| Year | Paid in | interest | Balance |
|---|---|---|---|
| 1 | $5,000.00 | $137.10 | $5,137.10 |
| 2 | $8,000.00 | $402.01 | $8,402.01 |
| 3 | $11,000.00 | $799.93 | $11,799.93 |
| 4 | $14,000.00 | $1,336.30 | $15,336.30 |
| 5 | $17,000.00 | $2,016.74 | $19,016.74 |
What this assumes
Emergency fund
Building three months of expenses
300House deposit
A larger goal over years
40000Steady saving
Regular monthly deposits
500A starting balance and a regular deposit. Either can be zero.
Savings account rates and how often you deposit — weekly, fortnightly or monthly.
Enter a target instead and see how long it takes, or what monthly amount reaches it in time.
Projecting forwards answers "what will I have"; solving backwards answers "what do I need to save", which is the more actionable question.
Weekly and fortnightly saving matches how people are actually paid, and the compounding differs slightly from monthly.
On short horizons at typical savings rates, interest contributes far less than deposits — which is worth seeing plainly.
Enter a starting balance, a regular deposit and an interest rate to project your savings over time — or work backwards from a target to find out how long it will take and what you would need to put aside each month. Contribution frequency is configurable, since people save weekly, fortnightly or monthly depending on how they are paid. Every figure is a projection at the rate you supply.
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