Expenses and Savings Calculator

This expenses and savings calculator shows how much money you can bank annually (with interest) if you reduced your expenses. The tool allows you to input your periodic expenses for each category. You may add categories if necessary. Next, you specify how much you want to reduce your costs by, and the expected savings interest rate. The calculator will then display the amounts you can accumulate over the next 5 years.

Expenses and Savings Calculator

Find out your daily/weekly/monthly/yearly expenses and learn how to save money with this calculator.

Expense Amount Spent * Period * Daily Weekly Monthly Yearly
$33.33 $250 $1000 $12000
$2000 $14000 $60000 $730000
$3000 $21000 $90000 $1095000
$571.43 $4000 $16000 $208000
Total: $5604.76 $39250 $167000 $2045000
Add Row

Find Out How Much You Can Save

  1. Input the percentage of cut back that you want to occur for your expenses.
  2. Specify the interest rate you will have for your savings account.
  3. Click “Calculate”.
Monthly Expenses Percentage of Cut Back (%) (required) Saved per Month Interest Rate (%) (required)


Cut Back your expenses

Years Of Contributions Contribution Interest Earned Total
Save as PDF

Download Guide

Your Privacy *

By using this calculator you agree to terms and conditions. These calculators are designed to be informational and educational tools only, and when used alone, do not constitute investment or financial advice. We strongly recommend that you seek the advice of a financial services professional before making any type of investment or deciding on your financial matters. This model is provided as a rough approximation of future financial performance. The results presented by this calculator are hypothetical and may not reflect the actual growth of your own investments. We can't take into account potential lender fees, payoff schedule can be longer than in the estimation. Financialfreedom and its affiliates are not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Financialfreedom is not responsible for any human or mechanical errors or omissions.

How to Use the Expenses and Savings Calculator

  1. Enter each category of expenses in the appropriate column. Examples include food/groceries, phone, auto insurance, and gas. You may add additional rows as you need to capture all your costs.
  2. Enter the amount spent, and specify the time period. For the period, you may select between daily, weekly, monthly or yearly. The last four columns will adjust themselves automatically.

Understanding the Results

The output from this expenses calculator shows how much you can save over 5 years at your desired interest rate. The results will be displayed as four columns, showing your outcomes over five years, as indicated by column 1.

The second column shows a cumulative total that you would save, for that year, without considering interest.

Column three shows the summation of interest to that year.

The last column shows how much you can save if you added up that year to previous years.

Example expenses and savings calculations

Let’s use the following example. I live with my parents to save money and have a few expenses: food, a cell phone plan, auto insurance, and gas. My expense section looks like this.

Expenses Calculator

I’m looking to cut back my expenses by about 15%, and I’ve found a savings account that pays 1.5% interest.

How to Save Calculator

When I click “Calculate”, I get the following results.

Expenses and Savings Calculator

By cutting 15% of my expenses, I can save $1032 per year and over $5000 in the next 5 years.

Develop a Savings Plan with Us

Try this expenses and savings calculator and see how much money you could be saving per year. While you’re here, take a look at some of our other savings calculators and see how much more you can save.