We have placed a new calculator onto the website: a savings calculator with a small twist. Instead of the standard savings calculator where you place in the number of years, the interest rate, the opening balance and the monthly savings you plan to add, then hit the calculate button to get the answer, we added a visual savings calculator instead. This will allow you to select numbers on 4 different informational bars with a diamond shaped point slider which will show you in real time how small adjustments in any of the areas will affect your savings. We feel this is a much more convenient way to determine what you need to be saving to reach your goals. You also have the option of inputting your tax rate to see how this will ultimately effect your savings.
Take some time and play around with it and let us know what your think. We’ll be adding more visual calculators over the next few weeks which will hopefully make figuring out your finances a bit more fun and allow you to see how multiple changes will affect your long term finances without having to input numbers time and again.
Visual Savings Calculator