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Saving and spending money
Financial - Wealth
Wednesday, 31 May 2006 22:02

With this calculator you can compute how much your money grows in time. Alternatively you can compute how long it takes before you have spent it all. You can enter the amounts you save or withdraw per month and per year. Use a minus sign for money withdrawn from your bank account.

Often the monthly and yearly saved amount varies per year. For some people this amount increases each year, for others spendings go up faster than income, for instance because of inflation. This effect can be modeled by increasing or decreasing the monthly and yearly savings each year with a certain percentage.

A realistic numerical module takes tax effects into account as well. This calculator supports tax on savings in two ways:

  • Tax as a percentage over the total amount above a certain amount at the beginning of the year,
  • Tax over the interest above a certain amount.

It may be that your government uses both models, which can be modeled with this calculator as well.

Finally, if you enter below a monthly amount then the computation does not include this amount in the first and last month. This is because the module does not know at which date in the month you increase your savings account.

Saved amounts:
Initial amount:
Yearly amount:
Monthly amount:
Indexation periodic savings (%):
Interest rate and inflation:
Annual interest rate (%):
Yearly inflation (%):
Taxes on savings:
Wealth tax (%):
Threshold wealth tax ($):
Tax on interest (%):
Threshold tax on interest ($):
Start/end date:
Start date (yyyy-mm-dd):
End date (yyyy-mm-dd):
Computed values:
Balance at end date:
Total saved amount excluding interest:
Balance minus deposits:
Balance at end date corrected for inflation:
Total tax paid until end date:
Click Compute for a diagram with the balance and the balance corrected for inflation plotted against time.