Chimponomics Savings Calculator Help

Savings goal

This is the amount of money you want to save up to. You can use Savings Calculator to save for any goal you might have such as saving for the downpayment if you plan to buy a house; saving for your wedding if you plan to get married; saving for your college or your children's college; saving for a nice vacation; etc.

Amount already saved

This is the amount of money you have had already. Including this amount in the savings calculator helps you maximize the interest you will earn

Savings interest rates

This refers to savings interest rates, ie. the interest rates you earn on your savings if you put all of your savings in a savings account. If you plan to invest your savings, this should refer to "expected rate of return" on your investment and that should vary depending on what you plan to invest in.

Some saving ideas

This session gives you a few ideas that you can save from your weekly spending. We spend money on a lots of things during the week such as Starbucks coffee or eating out or going to movies. The tool will help you calculate how much you can save per week and per month if you reduce the number of times you spend on these activities. It will also inform you when your reducing these activities helps you reach your monthly savings goal.

What can you buy?

This session helps you see how much you can buy various common items with your monthly savings goal.