Skip to content

Savings Calculator

Project how a deposit plus regular contributions grows, with contributions that increase each year.

$
$
%/year
$
%/year
%
%

0 if this is a tax-advantaged account

About the Savings Calculator

Project how an initial deposit plus regular annual and monthly contributions grows over time — with each contribution amount increasing by its own percentage every year, to model raises or planned increases to your savings.

How the Savings Calculator works

Most savings projections assume you contribute the same fixed amount every period, but many savers plan to increase their contributions over time — for example, adding 3% more each year as income grows. This calculator lets your annual and monthly contributions each escalate at their own rate: the amounts you enter apply in year 1, and grow by their increase percentage every year after that, compounding right alongside your balance.

How to use the Savings Calculator

  1. Enter your initial deposit.
  2. Enter your annual contribution and how much you expect it to increase each year (0% keeps it flat).
  3. Enter your monthly contribution and its own yearly increase percentage.
  4. Enter the interest rate, compounding frequency, and how many years you plan to save.
  5. Optionally enter a tax rate to see the after-tax ending balance; set to 0 for a tax-advantaged account.
  6. Press Calculate to see your ending balance, total contributions, total interest, and the full accumulation schedule.

Tips for the Savings Calculator

  • Even a small annual increase to your contributions (matching a typical raise) can meaningfully grow your ending balance over a long enough time horizon.

Formula used by the Savings Calculator

Contribution in year y = Base Contribution × (1 + Increase % ÷ 100)^(y−1) Ending Balance compounds each month's balance by the rate implied by the compounding frequency, then adds that month's (escalated) contribution.

Example: Savings Calculator

$1,000 start with a $100/month contribution that grows 3% each year

  • Initial deposit: $1,000
  • Monthly contribution: $100, +3%/year
  • Rate: 5% (illustrative), monthly compounding
  • Length: 10 years

Result: Ending balance ≈ $19,233.51 (contributions ≈ $13,756.66; interest ≈ $4,476.85)

The $100 monthly contribution grows by 3% at the start of each new year, and the whole balance compounds monthly at 5% annually, ending with roughly $19,233.51 after 10 years.

Related calculators