Savings Calculator Project growth, hit goals, and compare accounts — with 2025 rates, inflation adjustment, and behaviora...
Savings Calculator
Project growth, hit goals, and compare accounts — with 2025 rates, inflation adjustment, and behavioral insights.
Goal-Based Monthly Deposit**:
$$PMT = \frac{FV \times r}{(1+r)^n - 1}$$
Growth Projection**:
$$FV = P(1+r)^n + PMT \times \frac{(1+r)^n - 1}{r}$$
Inflation Adjustment**:
$$\text{Real Value} = \frac{\text{Nominal}}{(1 + \pi)^t}$$
Example** ($25K goal in 3 yrs, $2K saved, 4.5% APY): • Monthly needed = **$652** • Interest earned = **$1,258** • Real value (3% infl) = **$22,578**
✅ Pro Tip**: Use **APY (Annual Percentage Yield)**, not APR — includes compounding. Daily > monthly > annual.
⚠️ Avoid these common pitfalls:
- Teaser APYs** — “5.25% for 6 months” → 0.50% after
- Early withdrawal penalties** — 90–180 days of interest lost on CDs
- Monthly maintenance fees** — $5/mo = $60/yr = 1.2% on $5K balance
- Ignoring inflation** — $10K today = $8,626 in 5 yrs (3% infl)
✅ Smart Savings Tips**:
- Automate deposits → 92% higher goal success (Fidelity)
- Use **no-penalty CDs** for emergency funds (3–6 mo liquidity)
- Compare APY *net* of fees (e.g., $10/mo fee = −1.2% on $10K)
| Account | APY Range | $10K in 5 Yrs |
|---|---|---|
| HYSA (Top) | 4.75–5.25% | $12,650 |
| 1-Yr CD | 4.50–5.00% | $12,460 |
| Money Market | 3.80–4.20% | $12,100 |
| Savings (Avg) | 0.45% | $10,226 |
📉 Emergency Fund Rule**:
- 3 months expenses if dual income
- 6 months if single income or volatile job
- 9–12 months if self-employed
➡️ Goal-Based
“I need $25K for a down payment in 3 years — how much should I save monthly?” ($652)
➡️ Growth Projection
“$5K initial + $300/mo @ 4.5% for 5 yrs — what’s my balance?” ($19,798)
➡️ Inflation-Adjusted
“$25K in 2025 — what’s it worth in 2030?” ($22,578)
➡️ Account Comparison
See how a 5.0% HYSA vs. 3.8% money market impacts growth.
Note: Uses exact compound formulas. APY = (1 + r/n)n − 1. Inflation-adjusted = nominal ÷ (1 + π)t.