Dimes to Dollars

So, if you’ve read tips on saving money on groceries or dining, hopefully you’ve committed to saving at least $20 a week.  This is relatively easy on nearly any budget.  Below is a chart of what $20/week can do for you.  The first table is just the saving.  The second is a simple savings account.  The third table is a higher earning Roth IRA.

Dollars Saved Year 1 Year 2 Year 3 Year 4 Year 5
Month 1 $           80.00 $ 1,120.00 $ 2,160.00 $ 3,200.00 $ 4,240.00
Month 2 $           80.00 $ 1,200.00 $ 2,240.00 $ 3,280.00 $ 4,320.00
Month 3 $         100.00 $ 1,300.00 $ 2,340.00 $ 3,380.00 $ 4,420.00
Month 4 $           80.00 $ 1,380.00 $ 2,420.00 $ 3,460.00 $ 4,500.00
Month 5 $           80.00 $ 1,460.00 $ 2,500.00 $ 3,540.00 $ 4,580.00
Month 6 $         100.00 $ 1,560.00 $ 2,600.00 $ 3,640.00 $ 4,680.00
Month 7 $           80.00 $ 1,640.00 $ 2,680.00 $ 3,720.00 $ 4,760.00
Month 8 $           80.00 $ 1,720.00 $ 2,760.00 $ 3,800.00 $ 4,840.00
Month 9 $         100.00 $ 1,820.00 $ 2,860.00 $ 3,900.00 $ 4,940.00
Month 10 $           80.00 $ 1,900.00 $ 2,940.00 $ 3,980.00 $ 5,020.00
Month 11 $           80.00 $ 1,980.00 $ 3,020.00 $ 4,060.00 $ 5,100.00
Month 12 $         100.00 $ 2,080.00 $ 3,120.00 $ 4,160.00 $ 5,200.00
Total $     1,040.00 $ 2,080.00 $ 3,120.00 $ 4,160.00 $ 5,200.00
$ Saved w/Interest – Compounded Monthly @ 1.75%
Dollars Saved Year 1 Year 2 Year 3 Year 4 Year 5
Month 1 $           80.00 $ 1,129.66 $ 2,197.57 $ 3,284.06 $ 4,389.44
Month 2 $         160.12 $ 1,211.28 $ 2,280.73 $ 3,368.78 $ 4,475.75
Month 3 $         260.35 $ 1,313.02 $ 2,384.01 $ 3,473.62 $ 4,582.19
Month 4 $         340.72 $ 1,394.91 $ 2,467.44 $ 3,558.62 $ 4,668.78
Month 5 $         421.21 $ 1,476.92 $ 2,550.99 $ 3,643.74 $ 4,755.49
Month 6 $         521.82 $ 1,579.04 $ 2,654.65 $ 3,748.98 $ 4,862.33
Month 7 $         602.57 $ 1,661.31 $ 2,738.47 $ 3,834.37 $ 4,949.32
Month 8 $         683.43 $ 1,743.70 $ 2,822.41 $ 3,919.88 $ 5,036.44
Month 9 $         784.41 $ 1,846.21 $ 2,926.47 $ 4,025.52 $ 5,143.68
Month 10 $         865.54 $ 1,928.86 $ 3,010.68 $ 4,111.31 $ 5,231.08
Month 11 $         946.79 $ 2,011.64 $ 3,095.01 $ 4,197.22 $ 5,318.60
Month 12 $     1,048.15 $ 2,114.53 $ 3,199.46 $ 4,303.25 $ 5,426.25
Total $     1,048.15 $ 2,114.53 $ 3,199.46 $ 4,303.25 $ 5,426.25
$ Saved w/Interest – Contributed to a Roth IRA @ 5%
Dollars Saved Year 1 Year 2 Year 3 Year 4 Year 5
Month 1 $           80.00 $ 1,147.87 $ 2,269.60 $ 3,447.92 $ 4,685.69
Month 2 $         160.33 $ 1,232.58 $ 2,358.93 $ 3,542.09 $ 4,784.94
Month 3 $         260.99 $ 1,337.65 $ 2,468.62 $ 3,656.65 $ 4,904.61
Month 4 $         342.06 $ 1,423.15 $ 2,558.77 $ 3,751.68 $ 5,004.76
Month 5 $         423.47 $ 1,509.00 $ 2,649.28 $ 3,847.10 $ 5,105.33
Month 6 $         525.21 $ 1,615.20 $ 2,760.17 $ 3,962.91 $ 5,226.31
Month 7 $         607.36 $ 1,701.83 $ 2,851.52 $ 4,059.19 $ 5,327.79
Month 8 $         689.86 $ 1,788.83 $ 2,943.23 $ 4,155.87 $ 5,429.68
Month 9 $         792.70 $ 1,896.18 $ 3,055.33 $ 4,272.95 $ 5,552.00
Month 10 $         875.95 $ 1,983.97 $ 3,147.89 $ 4,370.51 $ 5,654.81
Month 11 $         959.55 $ 2,072.13 $ 3,240.82 $ 4,468.47 $ 5,758.05
Month 12 $     1,063.50 $ 2,180.64 $ 3,354.14 $ 4,586.84 $ 5,881.72
Total $     1,063.50 $ 2,180.64 $ 3,354.14 $ 4,586.84 $ 5,881.72


		
	

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