This savings calculator turns a vague intention to save into a concrete, motivating number.
Modify the values and click the calculate button to use
This savings calculator projects the future value of money you set aside, combining a starting balance, regular monthly contributions, and compound interest. Unlike a debt tool that subtracts a balance, this one grows it, showing the powerful effect of time and consistency. You can model a specific goal, such as a down payment or emergency fund, and see how long it takes to reach it, or fix a time horizon and see the ending balance. The calculator separates your total contributions from the interest you earn, making the compounding effect clear. It is built for US savers working in dollars, using realistic high-yield and standard account rates, and it assumes monthly compounding, the most common structure for savings accounts.
Enter your starting balance, the amount you already have saved today.
Type in the monthly contribution you plan to add consistently.
Enter the annual interest rate or APY your account pays.
Set the time horizon in years for how long you will keep saving.
Review the projected ending balance the calculator displays.
Look at the split between your total contributions and the interest earned.
Adjust the monthly contribution or time horizon to see how your future balance changes.
The calculator uses the future value formula for a series of regular deposits combined with growth on your starting balance. Each month, your existing balance earns interest equal to balance × (annual rate ÷ 12), then your contribution is added. That new total carries into the next month, so future interest is earned on both past contributions and previously earned interest, which is the essence of compounding. The starting balance grows on its own using the standard compound formula: future value = principal × (1 + r)^n, where r is the monthly rate and n is the number of months. The two streams are summed to give your projected balance. Total interest earned is simply the ending balance minus everything you personally contributed.
The projected balance is your headline, but the contribution-versus-interest split is where the lesson lives. Early on, almost all your growth comes from contributions. Over longer horizons, interest takes over and can eventually rival or exceed what you put in, which is why starting early matters so much. If your interest earned looks small, extending the time horizon usually has a bigger effect than you expect, because compounding accelerates in later years. Comparing a standard 0.40% account against a 4.50% high-yield account in the calculator often shows hundreds or thousands of extra dollars over time. Use the result to set a realistic monthly contribution and to appreciate that patience, not just the deposit size, builds the balance.
Time is the most powerful factor, because compounding rewards long horizons disproportionately. Your interest rate is next; the gap between a near-zero traditional account and a 4% to 5% high-yield account in 2026 is enormous over a decade. Your monthly contribution drives steady, predictable growth and is the lever you control most directly. Compounding frequency matters slightly, with more frequent compounding producing marginally more. Inflation is a hidden factor the nominal balance ignores, so remember that future dollars buy a little less. Finally, consistency beats size: a modest contribution made every month for years outperforms sporadic large deposits, because each dollar gets more time to compound.
Jordan starts with $2,000 and adds $300 a month into a high-yield account paying 4.5% APY for 5 years. He contributes $18,000 of his own money over that time, plus the initial $2,000. With monthly compounding, his ending balance reaches roughly $22,600, meaning he earns about $2,600 in interest on top of his $20,000 in deposits without any extra effort.
Maria starts with the same $2,000 and $300 monthly but lets it run for 15 years at 4.5%. Her contributions total $54,000 plus the $2,000 start. The ending balance grows to roughly $80,400, so interest earned is about $24,400, nearly half again as much as a third of her contributions. Tripling the time horizon multiplies the interest far more than three times, showing how compounding rewards patience.
Automate your monthly contribution so saving happens without willpower or memory.
Chase a competitive APY, since moving from a near-zero account to a high-yield one can add thousands over time at no risk.
Start as early as possible; an extra few years on the front end often beats a larger contribution later.
Keep your emergency fund in a liquid high-yield account so it grows while staying accessible.
Increase your contribution whenever your income rises, even by a small amount, to accelerate compounding.
Revisit the calculator yearly to confirm you are on pace for your goal and adjust if rates change.
It projects how your starting balance and monthly contributions grow with compound interest over time. It shows your future balance and separates your deposits from the interest you earn.
Each period, you earn interest on your balance, then that interest earns interest too. Over long horizons this snowballs, so earnings can eventually rival your own contributions.
Use your account's APY. In 2026, high-yield savings accounts commonly pay between about 4.15% and 5.00%, while many traditional accounts pay far less.
That depends on your goal and timeline. Enter different monthly amounts and time horizons to find a contribution that reaches your target without straining your budget.
Yes. Because compounding accelerates over time, money saved earlier earns far more than the same amount saved later, often making time more valuable than contribution size.
APY includes the effect of compounding within a year, so it is slightly higher than the stated nominal rate. Using APY gives the most accurate growth projection.
Yes, it is completely free with no signup. Enter your balance, contribution, rate, and timeline to instantly see your projected savings.
Brief disclaimer: This calculator provides estimates for educational and planning purposes only. Actual savings growth depends on your account's specific terms, rate changes, and contribution consistency. Results should be treated as planning guidance rather than financial advice.