Savings Calculator Over Time

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Tony – Smart Penny Pincher

This savings calculator computes the accumulated savings over time.

Say for example you saved $20 per week.  If you did this consistently and earned 5% interest compounded monthly, then the accumulated savings would be over $35,000 in a 20 year time period.

Adjust the sliders dynamically to see the potential savings.


Time Value of Money

The time value of money can either work for you or against you.  Spend wisely and watch your accounts grow.  If you spend foolishly you need to:

  • Make more money than someone who saves
  • Retire later than you want to
  • Be unable to purchase what you want to due to limited funds

The “latte” factor is a concept that many don’t realize is happening.  They make unnecessary purchases on little things and it does not seem to matter.  Over time however, all of this spending adds up to significant credit card bills and reduced bank accounts.

Don’t let this happen to you.

The calculator above shows just how important the latte factor really is.  It is designed to show you how much extra can be accumulated over time.  It could easily be used to show how much is lost over time by frivolous expenses.  Just look at the numbers differently and think, if I spent this much extra per week, how much is it costing me over time?

Live Within Your Means

It matters little how much money is made if the expenditures exceed income.

This is where thoughtful purchases and a plan of attack are helpful.  If you decide to budget a certain amount to spend per month, then stick with it.  Don’t let circumstance and inconvenience rule your checkbook.  Take control and develop the self discipline to stick to the plan.


Use coupons and promos to improve your lifestyle and assist with budgeting.  Coupons are best used for purchases that you already intend to make.  If you are interested in calculating the % savings, then use our % Savings Calculator.


Use financial software such as Quicken, MoneyDance or the free GNU Cash program to help track your money.  Having an up to date view of all of your finances is vital to understanding the situation.

Most software these days have built in budgeting functions that help you to stick to the plan.  Charts and graphs are also helpful since you can use them to spot spending trends.  These known trends can help you plan ahead and be prepared.

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