Free savings calculator. Calculate how much your savings will grow with monthly contributions and compound interest over time.
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Savings Calculator
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Formula
Formula
Future Value = Initial × (1+r)ⁿ + Monthly × ((1+r)ⁿ − 1) ÷ r
r = monthly interest rate (annual ÷ 12 ÷ 100) · n = total months. First part is growth of initial deposit, second is growth of regular contributions.
Frequently Asked Questions
How much should I save each month?+
A common guideline is the 50/30/20 rule — save 20% of income. Even small amounts like $100/month grow significantly over 20+ years with compound interest.
What interest rate should I use?+
High-yield savings accounts offer 4-5%. Stock market averages 7-10% long term. Use a conservative 4-6% for savings accounts.
When should I start saving?+
The earlier the better due to compound interest. Starting at 25 vs 35 can double your retirement savings.