All tools › Saving
Savings goal
How much to put by each month, or how long it will take.
It runs entirely in this browser tab: what you type is never uploaded, and the tool makes no network request while it works. Open your browser's network panel and try it — nothing leaves the page. There is no sign-up and no account.
Settings
- Deposits are made
- Money paid in monthly into a yearly-compounding account is the ordinary case. Choices: Yearly, Twice a year, Quarterly, Monthly, Fortnightly, Weekly, Daily.
- Paid at the start of the period
- On or off. Starts off.
How to use it
- Paste your text into the box above, or open a file.
- Adjust the settings beside it until the result is what you wanted.
- Copy the result, or save it as a file. The result updates as you type.
Questions
- Which currency are the answers in?
- Whichever one your numbers were in. No tool here names a currency anywhere, because it cannot know which one you meant and a wrong symbol beside a right number is worse than no symbol at all. Every result says so.
- Is tax taken into account?
- No, and every result that could be mistaken for a net figure says so. Income tax, national contributions and allowances differ by country, by year and by circumstance, and a calculator that guessed at them would be wrong for almost everybody while looking authoritative.
- Why is the payment a cent more than my bank's?
- Because a payment is rounded up to the cent here, which is what a lender charges: a payment rounded down leaves a balance behind, and a mortgage of exactly three hundred payments then runs to three hundred and one, the last of them for a penny. Your bank may round the other way, or add a fee, or use a different day-count convention — all three are in the contract.
- Is what I type uploaded anywhere?
- No. This page carries the whole tool as WebAssembly and runs it on your own device. Nothing you type is sent anywhere, and there is no network request to make while it works.
Other tools for saving
Compound interest
A sum, a rate, a term and a regular deposit, year by year.
Simple interest
Interest that does not compound, and any three of the four give the fourth.
Emergency fund
Three to six months of expenses, and where that number comes from.
Inflation
What a sum will buy later, and what a later sum would have to be.
Rule of 72
The estimate everybody has heard of, beside the logarithm it approximates.
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