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Northeast Community Credit Unionwww.BeMyCU.org
Step 1: Have a goal. Use this calculator to find out how long it will take you to reach your savings goal.
Current Savings Balance
Enter the amount of money currently saved.
Desired Savings Goal
Enter the total amount of money you want to save.
Annual Savings Rate
Enter the average annual savings rate (or interest rate) for the account in which your savings are kept.
Federal Tax Rate
Enter your federal tax rate. If you are using a tax free savings instrument, then enter 0%.
State Tax Rate
Enter your state tax rate. If you are using a tax free savings instrument for the state in which you reside, then enter 0%.
Inflation Rate
Enter the expected inflation rate for the period in question. The historical average is about 3%.
It will take 0 years to reach your savings goal.
When adjusted for inflation of 0%, 0% will be worth $0 in 0 years.
Northeast Community Credit Union
Northeast Community Credit Union is proud to be a federally-insured community credit union serving the individuals of Carter, Washington, Johnson, Sullivan and Unicoi counties. Anyone that lives, works, worships, or attends school in our area may join the credit union with a $25 initial deposit into a share account. See website for details.980 Jason Witten WayElizabethton, TN 37643(423) 547-3820www.BeMyCU.org
The Motley Fool's "Saving & Spending Center" provides a crash-course in how to save more money, including budgeting, short-term savings vehicles, saving for college, etc.
About.com's Money In Your 20's section has great articles to get you thinking about ways to save better.
FinancialLiteracyMonth.com's Tips & Gadgets | Tools for Success section offers a helpful "Financial Goals Worksheet." Be sure your goal has a specific purpose, a dollar amount that it will cost, and a realistic target date.
At Credit Unions, You Save More Because credit unions are member-owned and member-operated, they pay-it-forward to members in the form of better interest rates and lower fees (instead of sending profits up to shareholders, like at a bank.) Find yours at www.CULookup.com.