Your Savings Plan

Enter your deposit, monthly contribution, interest rate, and time period.

How Savings Work

This calculator uses compound interest to estimate how your savings grow over time, including both your initial deposit and monthly contributions.

Formula

Future Value = Initial Γ— (1 + r)n + Monthly Γ— ((1 + r)n βˆ’ 1) / r

  • r = monthly interest rate
  • n = total number of months

Example

If you deposit $1,000, add $200/month, earn 5% annually, for 10 years:

  • Total Contributions β‰ˆ $25,000
  • Total Savings β‰ˆ $31,579
  • Interest Earned β‰ˆ $6,579

FAQ

Does this include compounding?
Yes β€” interest compounds monthly.

Can I enter decimals?
Yes, decimals work for all fields.

What if I don’t make monthly contributions?
The calculator still works β€” it will only grow the initial deposit.

Why Use a Savings Calculator?

Understanding how your money grows over time helps you plan for the future, set financial goals, and stay motivated. This calculator gives you a clear picture of how contributions and interest work together.

What This Tool Helps You Do

Who This Tool Is For

Additional FAQ

Does this include inflation?
No β€” this calculator shows nominal growth only.

Can I calculate weekly or yearly contributions?
Not yet β€” but additional modes can be added.

Is this financial advice?
No β€” this is an educational tool for estimates only.