Getting Started with Savings Pro
This calculator is designed to help you visualize exactly how your money grows over time. It doesn't just add up numbers; it shows you how your savings will perform in the "real world."
🎯 Reaching Your Goal
The main purpose of this tool is to help you hit a specific target. Everything updates automatically as you type, so you can play with the numbers until they work for you.
What is the "Goal Shortfall"?
This is the most important number in the tool. If your current plan isn't enough to hit your target, the "Shortfall" shows you exactly how much extra money you'll need. Check the advice box to see a suggestion on how much more to save each month to fix it.
💰 Managing Your Money
Setting a Starting Point
- Initial Balance: The money you have saved right now.
- Monthly Contribution: The amount you can afford to put away every month.
Planning for Growth
- Annual Interest: The percentage you expect your money to grow (from a bank account or investments).
- Annual Increase: If you expect to get a pay rise each year, use this to automatically increase your monthly savings by a small percentage (e.g., 2% or 3%).
🌍 Using Different Currencies
If you are planning to travel or move abroad, you can change the currency at any time. The tool uses live market rates to convert all your current values automatically. You don't need to do any math; we handle the conversion for you based on today's official rates.
📊 Understanding the Chart
- Forecast (Green): This is the actual amount of money you will see in your bank account.
- Real Value (Orange Dash): This shows you what that money is "worth" in today's terms by accounting for rising costs (inflation). If this line is lower than the green one, it means things will be more expensive in the future.
- Contributions (Grey Dash): This is just the cash you put in. The space between this and the Green line is your "free money" earned from interest.
❓ Common Questions
Do I need to save or click a button?
No. The calculator works in real-time. Every change you make updates the results immediately.
Are the currency rates accurate?
Yes, we fetch the latest official daily rates provided by the European Central Bank.
What is a "Milestone"?
Milestones show you the exact month and year you will hit 25%, 50%, and 75% of your target. It's a great way to track your progress.