Kim & Bob | MyBudget clients
Turn Your Savings Goal into a Plan
A Savings Calculator can show what’s possible. MyBudget helps you create a personalised budget and 12-month financial plan that makes saving easier. Whether you’re building an emergency fund, saving for a holiday or planning for a house deposit, our experienced Money Coaches help you stay on track.
Helping 130,000+ people build a better financial future for over 25 years
Savings Calculator FAQs
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The MyBudget Savings Calculator estimates how long it could take to reach your savings goal based on how much you save and any interest earned. Simply enter your savings target, starting balance, regular contributions and interest rate to see an estimated timeline. It provides a helpful guide, while MyBudget can create a personalised budget and savings plan tailored to your circumstances.
Yes. The Savings Calculator lets you include an estimated interest rate so you can see how interest may help your savings grow over time. The results are estimates only and are designed to help you plan your savings goals. Actual returns will depend on the interest rate offered by your financial institution and your account conditions.Yes. Interest is calculated daily and added to your savings balance monthly. This means you earn interest on both your initial deposit and any interest already earned, known as compound interest.
Yes. You can adjust your regular savings amount or add extra deposits to see how increasing your contributions may help you reach your savings goal sooner. The calculator lets you compare different savings scenarios, making it easier to find an approach that suits your budget and financial goals.
The Savings Calculator provides an estimate based on the information you enter, including your savings goal, regular contributions and interest rate. Actual results may vary depending on changes to your income, spending, interest rates or savings habits. For a personalised plan based on your real financial situation, MyBudget can create a tailored budget designed around your goals.
Once you’ve used the Savings Calculator, compare different savings scenarios and choose a goal that suits your budget. If you’d like personalised support, MyBudget can help you create a tailored budget and savings plan that fits your lifestyle, making it easier to save consistently and stay on track towards your financial goals.
Yes. The MyBudget Savings Calculator is completely free to use and can help you estimate how long it may take to reach your savings goals. If you’d like more personalised support, you can also book a free appointment with a MyBudget Money Coach to create a tailored budget and savings plan.