The act of saving money brings future rewards to people disciplined enough to do it. Those who are most successful at saving money do it systematically; they might force themselves to put away 15 percent of every paycheck, for instance. While denying yourself the instant gratification of spending money, having a savings account can help you enjoy life with the feeling of security that comes with not living paycheck to paycheck. Every once in a while, it can be inspiring to calculate your savings growth. Seeing how much money is building up can provide you with psychological momentum for saving even more.
Things You'll Need
Look at your savings account statement and determine how much money you started the account with and how much it is presently worth. As an example, imagine that you started your savings account with $500 and that it is now worth $800.
Write the following equation for calculating the percentage by which your savings have grown:
Savings Growth = (present worth - original deposit) / original deposit x 100 percent.
Input the values from your savings account statement into the formula and use a calculator to determine the percentage growth. From our example:
Savings Growth = ($800 - $500) / $500 x 100 percent = 60 percent. The savings account in our example experienced a growth of 60 percent.
- Photo Credit Jupiterimages/Pixland/Getty Images
How to Calculate Savings
When using a savings calculator, you may want to adjust the for inflation. ... How to Calculate Savings Growth; ehow.com. About eHow;...
How to Calculate Growth Rate or Percent Change
money section. Saving & Spending. Budgeting; Banking; Credit; Cards; Loans; Real Estate. Buying a Home; ... To find the growth rate of...
How to Calculate Annual Growth Rate
Examine the compound annual growth rate formula. The formula is an adjusted version of the simple rate formula.
The Growth Rate of Nominal Money
The growth rate of nominal money looks at how nominal money changes from year to year as a percentage. ... Formula to...
How to Build a Savings Interest Calculator in Excel
How to Build a Savings Interest Calculator in Excel. ... Microsoft Excel has formula functions specifically for loan amounts and payments.
How to Calculate Future Growth
How to Calculate Future Growth. ... Photo Credit money growth image by max blain from Fotolia.com; More Like This. How to Calculate...
Using an Investment Growth Calculator
But your money basically should double every seven years. ... How to Calculate a Growth Ratio. How to Calculate Annual Growth Rate....
401k Retirement Plan Growth Calculator
401k Retirement Plan Growth Calculator; X. ... calculating your retirement savings is really a best guess scenario. Other People Are Reading. What...
How to Calculate a Roth Ira Account
A Roth IRA is a tax-free growth account that will prove to be a great future investment for the ... and enter...
How to Figure IRA Growth
Understanding how to figure IRA growth is an essential part of smart investing. ... Money grows tax deferred,... How to Calculate Mandatory...
How to Calculate Percentage of Monthly Growth
How to Calculate Percentage of Monthly Growth. ... to Double at a Five Percent Growth Rate. Most banks pay interest on their...
What Is the Formula for IRA Withdrawals?
If you own an Individual Retirement Account, or IRA, you enjoy tax-advantaged savings intended for retirement. Once you reach the age of...
How to Calculate Savings Rate
How to Calculate Growth Rate or Percent Change. A percent growth rate (or sometimes referred to as percent change, ... How do...
How to Estimate How Much Money You Will Need To Retire
Saving Money for Retirement; How to Estimate How Much Money You Will Need To Retire; X. Must See: Slide Shows. How to...