More For Your Money - University of Illinois Extension

http://MoreForYourMoney.extension.uiuc.edu

The Impact of Saving $20 per Week

Saving money is important. Here is one more example of how saving small amounts adds up over time.  Saving $20 a week may not seem like much. However, it's more than $1,000 per year. Saving this much year after year will make a real difference. Don't forget the power of time and compounding.

  5%* 10%*
10 years $13,700 $18,200
20 years $36,100 $65,000
30 years $72,600 $188,200
40 years $131,900 $506,300
*Annual rate of return

If you start this saving plan now, in 40 years (at 5 percent annual rate of return on your savings) you'll have $131,900! That’s what you’ll have from saving just $20 a week. Why are you waiting? Let time work for you and start saving today!

Try It Yourself

Amount Time Interest Rate Dollars Saved

per week
$0
*Annual rate of return

The Key Points To Saving MoneyDollar bills piled up.

  • Saving small amounts will add up over time.
  • Saving money regularly leads to successful saving.
  • Compounding interest will help your money grow.