What if I save $5 every day?
A small daily saving, added up over months and years.
After 10 years you would have
$18,250
- You put in
- $18,250
- Saved in the first year
- $1,825
Year by year
| Year | Total saved |
|---|---|
| 1 | $1,825 |
| 2 | $3,650 |
| 3 | $5,475 |
| 4 | $7,300 |
| 5 | $9,125 |
| 10 | $18,250 |
Assumptions behind this result
- You save $5.00 every day, added at the end of each day.
- No interest or investment growth — just the money you put away.
- Inflation, taxes and fees are not taken into account.
Five a day does not feel like much, which is exactly why it is worth seeing added up. Change the amount and the currency to match a habit of your own — whatever you would otherwise spend it on.
How it is worked out
Every period, your balance first grows by the period's share of the yearly rate, then your saving is added. With growth set to 0, the total is simply your saving multiplied by the number of periods.
A yearly rate is turned into a rate per period that compounds back to the same yearly figure — 6% a year becomes about 0.487% a month, not 0.5% — so changing how often you save does not change the yearly return.
If you raise your saving each year, the new amount applies from the first period of the following year.