Savings Calculator
Future value of a regular monthly deposit.
Input sheet
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Consistent monthly saving, left to compound, is how ordinary incomes build real balances. This projects what a recurring deposit grows into over time.
How it works
Future value of a series of monthly deposits compounding at the monthly rate.
The result is the future value of a series — each monthly deposit compounds from the moment it lands, so the earliest deposits grow the most. The tool separates how much you actually contributed from how much the account earned on its own, which makes the power of compounding visible.
The longer the horizon, the larger the share that comes from interest rather than your own deposits. Early on, almost all the balance is your contributions; given enough years, earnings can overtake them.
Future balance = monthly deposit × ((1 + monthly rate)^months − 1) ÷ monthly rate
Worked examples
$500/month at 5% for 10 years → ≈ $77,640 balance, of which ~$17,640 is interest
You deposit $60,000 over 120 months; compounding at 5% adds roughly $17,640 on top.
$1,000/month at 5% for 20 years → ≈ $411,000 balance
Contributions of $240,000 grow by roughly $171,000 in interest — the extra decade lets earnings compound on a far larger base.
Tips & gotchas
- Automate the deposit so it leaves your account on payday — saving what's left at month's end rarely works.
- Increase the deposit whenever your income rises; even small annual bumps compound dramatically over a career.
- A high-yield savings account or money market fund can pay several times what a standard account does — the rate you enter here is worth shopping for.
- For long horizons, a diversified investment account historically beats a savings rate, though with more short-term volatility; match the vehicle to when you'll need the money.
FAQ
Does this assume deposits at the start or end of the month?
It compounds each deposit over the full set of remaining months, a standard future-value-of-an-annuity calculation. Real-world timing differences are minor over long horizons.
What rate is realistic for savings?
High-yield savings and money market accounts move with prevailing rates and have recently paid in the low-to-mid single digits. For multi-decade goals, investors often assume a higher long-run return from invested funds.
What if I miss some months?
The projection assumes every deposit is made. Skipping deposits lowers the result roughly in proportion to what you skipped, plus the compounding those dollars would have earned.
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