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How to use
Use the savings calculator to project a future balance from a starting amount, regular monthly contributions and an assumed annual rate compounded monthly. It separates money you contribute from estimated growth and can compare the projection with an optional savings goal.
- Enter your current balance; zero is allowed.
- Enter the amount added at the end of each month, the assumed annual rate and the time horizon.
- Optionally add a savings goal, then calculate the projected balance, your total contributions and the goal gap.
How it is calculated
Example
Example: start with 10,000 and add 500 monthly for 10 years at an assumed 5% annual rate compounded monthly. Total contributions are 70,000 and the projected balance is about 94,111.23, implying about 24,111.23 of estimated growth before fees, taxes or inflation.
Important notes
This is a mathematical projection, not a promised return. It assumes a constant rate, monthly compounding and deposits at month-end. Inflation, fees, taxes and changing rates are not modeled. Use the actual account or product terms for real financial decisions.
Worked examples and interpreting results
An initial 1000 plus 100 deposited at each month-end for two years, assuming zero interest, reaches 3400. New deposits contribute 2400.
| Case | Calculation | Result |
|---|---|---|
| New deposits | 100 × 24 | 2,400 |
| Ending balance | 1000 + 2400 | 3,400 |
How to check the result
The zero-rate case isolates your deposit plan. With an annual rate, the model compounds monthly and deposits at month-end; future returns are not guaranteed.
Monthly savings goals: contributions versus compound growth
Start with an opening balance, add monthly deposits and choose an assumed annual interest rate and time horizon. With no return, final savings equal opening balance plus deposits; compounding creates additional projected growth.
- 1000 initial plus 100 monthly for 12 months at 0%: 1000 + 100 × 12 = 2200
- 200 saved monthly for six months at 0%: 200 × 6 = 1200
- 1000 at nominal 12% annual compounded monthly for one year: 1000 × (1+0.12÷12)^12 = ≈ 1126.83
Important note
A modelled return is not a guaranteed investment result. Market fluctuations, fees, taxes and inflation are not fully captured; compare several possible rates and timelines.
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Frequently asked questions
What happens at a 0% rate?
The ending balance is simply the starting amount plus all monthly contributions.
Are monthly deposits made at the start or end of the month?
This calculator assumes month-end deposits. Depositing at the beginning of each month would give every contribution one extra month of growth.
Is this the same as a compound interest calculator?
The math overlaps, but this tool is focused on regular saving, separates monthly contributions and can compare the result with a goal.