Savings Calculator

This is a fixed-rate savings calculator that considers tax, inflation, and periodically contributions. For savings account, the APY (Annual Percentage Yield) given by bank is the interest rate compounded annually. This calculator can take negative starting balance or contribution values.

Starting Amount 
Annual Contribution 
increase/ year
Monthly Contribution 
increase/ year
Contribute at the
of each compounding period
Interest Rate 
Tax Rate 
Inflation Rate 


End Balance$78,124.64
After Inflation Adjustment$58,132.07
Total Principal$46,545.68
Total Interest$31,578.96

Balance Accumulation Graph
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Except the super-riches, we all probably need to save money for important life milestones, such as buying houses, college educations, buying cars, emergency funds, marriage, having babies, vacations, and a lot more. Yet, saving money is not easy. Many of the times, the hardest is just getting started. The steps below as well as the savings calculator above can help developing a savings plan and achieve your financial goals.

  1. Set savings goals—You probably have multiple savings goals. They can be either short terms or long terms or both. Short-term goals normally mean to be achieved within 3 years or less, such as save emergency fund, save money for a new car or a hobby. Retirement savings, college education funds, house down payments are examples of long term savings goals. With all the goals listed and with the calculator above, you will have an idea of how much you will need to put aside monthly or annually to achieve the goals.
  2. Record your expenses—It is very important to know where your money goes. Spending a few months to record everything and get a clear idea of your spending habit will help.
  3. Decide on your priorities—Once every spending is recorded, you will need to prioritize them. Things like food should have high priority, yet dinning out should have low priority.
  4. Make a budget—Based on your income, spending priorities, and savings goals, you will need to have a plan. Often, you will need to cut many low priority spending. It is painful but necessary.
  5. Choose the right financial products—There are thousands of different financial products on the market. They are designed for different purposes and situations. Be sure to study the pro and con before picking any.
  6. Get started and see your savings grow!