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💰 Savings Calculator

Calculate compound interest growth, plan retirement savings, and reach your financial goals with our advanced savings calculator.

⚠️ Financial Disclaimer: This calculator provides estimates for educational purposes only. Actual returns may vary based on market conditions and account terms. Always consult with qualified financial advisors for investment decisions.

Savings Details

Initial Deposit ($)

Starting amount you deposit today

Monthly Contribution ($)

Amount you save each month

Annual Interest Rate (%)

Expected annual return rate

Time Horizon (Years)

How long you plan to save

Compounding Frequency

Savings Goal ($) - Optional

Target amount you want to reach

Savings Projection

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Enter your savings details to see projections

See how compound interest grows your money over time

Understanding Compound Interest & Savings Growth

The Power of Compound Interest

Compound interest is earning interest on your interest. The longer your money stays invested, the more powerful this effect becomes. Even small amounts can grow substantially over time.

Savings Account Types

• High-Yield Savings: 4-5% APY
• Money Market: 3-4% APY
• CDs: 4-6% APY (locked rates)
• Traditional Savings: 0.01-1% APY

Savings Strategies

• Start early to maximize compound growth
• Automate regular contributions
• Shop for the highest safe interest rates
• Consider laddering CDs for flexibility
• Separate emergency and goal-based savings

Common Savings Goals

• Emergency Fund: 3-6 months expenses
• House Down Payment: 10-20% of home price
• Retirement: 10-15% of annual income
• Vacation/Major Purchase: Goal-specific