Savings Calculator — calculate future value
This calculator easily answers the question "If I save "X" amount for "Y" months what will the value be at the end?"
The user enters the "Periodic Savings Amount" (amount saved or invested every month); the "Number of Months" and the "Annual Interest Rate" or the annual rate of return one expects to earn on their investments.
The calculator quickly creates a savings schedule and a set of charts that will help the user see the relationship between the amount invested and the return on the investment. The schedule can be copied and pasted to Excel, if desired.
The investment term is always expressed in months.
- 60 months = 5 years
- 120 months = 10 years
- 180 months = 15 years
- 240 months = 20 years
- 360 months = 30 years
If you need a more advanced "Savings Calculator" - one that lets the user solve for the starting amount, the amount to invest, the interest rate, the term required to reach a goal or the future value; or if you would like to easily print the schedule; or if you need to pick a different investment frequency, then you may want to try the calculator located here: https://AccurateCalculators.com/savings-calculator
Currency and Date Conventions
All calculators will remember your choice. You may also change it at any time.
Clicking "Save changes" will cause the calculator to reload. Your edits will be lost.
To calculate your savings and estimate how much you’ll accumulate using a savings calculator, follow these steps:
1. Determine Your Initial Amount
- Decide how much money you will start with (initial deposit).
2. Set Your Regular Contributions
- Decide how much you will save regularly (e.g., monthly, quarterly).
3. Choose the Interest Rate
- Find out the annual interest rate for your savings account (this is often expressed as a percentage).
4. Decide the Time Period
- Determine how long you plan to save (in years or months).
5. Select the Compounding Frequency
- Identify how often the interest compounds (e.g., annually, monthly, daily).
6. Use the Savings Calculator
- Input your initial amount, regular contributions, interest rate, time period, and compounding frequency into the calculator.
- Most calculators will have a clear interface where you can enter this data.
7. Review the Results
- The calculator will show you the future value of your savings, including total contributions and interest earned.
8. Adjust Variables (Optional)
- Experiment with different amounts or interest rates to see how changes affect your total savings.
Example Calculation:
- Initial Amount: $1200.0
- Interest Rate: 5.5% per year
- Time Period: 240 Month
- Compounding Frequency: Monthly
Using a savings calculator, you would input these values to find out how much you’ll have at the end of 5 years.
If you need recommendations for specific calculators or more detailed guidance, just let me know!