Your Savings Countdown: Calculate Time to Goal
8/16/2023 - By Fintactix - SouthState Mortgage Insights and Articles
Saving money is on nearly every consumer’s to-do list, but setting a specific savings goal can make the difference between actually saving and only talking about it. Whether you want to save in the tens or thousands, the calculator below can help you estimate how long it will take you to reach the goal.
Do you have 9 months before baby arrives and need to purchase a new, safer vehicle? Use the sliders to plug in your ultimate goal, the 9-month time frame, how much you plan to save each month, and how much you have already set aside.
Creating a manageable plan and expectations for building your savings will help you get off to the right start. If your timeline needs to move due to other circumstances, don’t give up on continuing to save. Your future goals will thank you if you have a nest egg to pull from the next time to you want to save up for a specific purchase.
Can I automate my savings to grow my money? With Round Up to Save, every time you make a purchase with your debit card, we’ll round the amount up to the next dollar and transfer the difference to your savings account.
Is there more than one type of savings account? Yes, savings accounts have different levels of interest rates and access to funds.
Creating a manageable plan and expectations for building your savings will help you get off to the right start. If your timeline needs to move due to other circumstances, don’t give up on continuing to save. Your future goals will thank you if you have a nest egg to pull from the next time to you want to save up for a specific purchase.
Can I automate my savings to grow my money? With Round Up to Save, every time you make a purchase with your debit card, we’ll round the amount up to the next dollar and transfer the difference to your savings account.
Is there more than one type of savings account? Yes, savings accounts have different levels of interest rates and access to funds.
