If you are saving up for a mortgage, or maybe even a car, then our Savings Calculator will help you calculate how long it will take for you to save up enough money to pay for it.
How to use the calculator
- Enter the amount of money that you are wanting to save.
- Enter the amount of money that you have already saved up, if any.
- Enter an interest rate that you are able to handle for your savings.
- Enter your monthly savings budget.
- Enter your additional monthly savings, if you are able to handle it. If you do, you will be able to reach your savings goal faster.
- Our calculator will then automatically update and provide you with a forecasted date that you will reach your savings goal on as well as how many months you will need to save money for.
Savings Calculator – Saving Made Simple
Maybe you're saving money up so that you can place a mortgage deposit, or maybe you're saving money up to go on vacation or buy your dream car, but regardless of what you're saving up for you will have difficulty saving. Most people have difficulty saving, no matter what it is they are saving for. In fact, instead of saving a lot of people neglect the idea of saving up and go straight to taking out a loan. If you save up for a special treat, then you will have a sense of satisfactions as well as no financial debt.
When taking out a loan, you will end up paying a significant amount more in interest than if you were to save up the money and buy what you have been saving for. You would save a lot of money through saving, instead of jumping straight to taking out a loan .
Our savings calculator will help you find out how long it will take for you to save up the money in order to buy one of life's few luxuries. Our calculator is simple, and has a few features that will help you decide how much you want to save.