MONEY EDUCATION RESOURCES
FINANCIAL TOOL 08
Savings Rate Calculator
Discover what percentage of your income you are saving, compare it with your target and see how much you need to save each month to reach your goal.
STEP 01
Enter your income and savings
Enter your monthly income, how much you currently save and the savings rate you want to achieve.
Why this matters
Your savings rate shows how much of your income you are keeping for future needs, opportunities and long-term financial goals.
STEP 02
Your Savings Rate
Current Savings Rate
20.0%
Monthly Savings
₦100,000
Annual Savings
₦1,200,000
Monthly Savings at Target Rate
₦100,000
Additional Monthly Savings Needed
₦0
Savings Rate
20.0%
Annual Savings at Target Rate
₦1,200,000
A stronger savings rate can give your money more room to build financial security, investments and future opportunities.
THE MONEY EDUCATION PRINCIPLE
Pay your future self first.
Saving is not simply what remains after spending. Give your future goals a place in your financial plan by intentionally setting money aside before other spending decisions consume it.
KEEP LEARNING
Knowledge becomes powerful when you put it into practice.
Continue building your financial knowledge through Money Education Daily™.