Spend Less Calculator
Benefit of Spending Less Calculator
Financial Calculators from
Dinkytown.net
Your investment options: |
Entertainment savings: | $0.00 per month |
Budget savings: | $0.00 per month |
Utility savings: | $0.00 per month |
Savings Total by Year |
Definitions
Monthly savings
The total amount that you could invest per month by spending less. This amount is calculated by adding up your potential entertainment, budget and utility savings.
Annual rate of return
This is the annually compounded rate of return you expect from your investments. The actual rate of return is largely dependent on the types of investments you select. The Standard & Poor's 500® (S&P 500®) for the 10 years ending December 31st 2024, had an annual compounded rate of return of 14.9%, including reinvestment of dividends. From January 1, 1970 to December 31st 2024, the average annual compounded rate of return for the S&P 500®, including reinvestment of dividends, was approximately 11.2% (source: www.spglobal.com). Since 1970, the highest 12-month return was 61% (June 1982 through June 1983). The lowest 12-month return was -43% (March 2008 to March 2009). Savings accounts at a financial institution pay less but carry significantly lower risk of loss of principal balances.
It is important to remember that these scenarios are hypothetical and that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that investment funds and/or investment companies may charge.
Years to save
The total number of years you plan to save.
Federal tax rate
The federal tax rate you expect to pay on your taxable investments.
State tax rate
The state tax rate you expect to pay on your taxable investments.
Total savings before taxes
Total value of your savings before taxes are taken into account. Most regular savings accounts and investment accounts are taxable. However, if your savings is being invested into a tax-deferred or tax-free investment this total may be important to you.
Total savings after taxes
The total amount you would have accumulated in a taxable account. All taxes are assumed to be paid as your earnings accrue.
Disclosures
Rate and APR may vary based on several factors including, but not limited to, loan amount, state of property location, documentation type, occupancy, property type, loan to value and your credit score. Your final rate may be higher or lower than those quoted based on information relating to these factors, which may be determined after you apply. To get a custom quote based on your specific situation, contact a Citizens State Bank representative.
The annual percentage rate (APR), is the cost of credit over the term of the loan expressed as an annual rate. The APR shown here is based on the interest rates and does not take into account other loan specific finance charges you may be required to pay.
Results shown are estimates only. Speak with a Citizens State Bank representative for more specific information.
Payments shown do not include amounts for taxes and insurance. Your actual rate, payment and costs could be higher. Get an official Loan Estimate before choosing a loan.
For the Adjustable-Rate Mortgage (ARM) product, interest is fixed for a set period of time, and adjusts periodically thereafter. At the end of the fixed-rate period, the interest and payments may increase. The APR may increase after the loan consummation. Interest only loans may be available depending on your credit profile and provide for the payment of interest only for a set period of time, and payments of principal and interest thereafter. While making interest only payments, principal is not reduced. At the end of this period your monthly payment will increase, possibly substantially, because you will be required to pay down the outstanding principal. Always consider paying more than the minimum payment to pay down the principal.
Tools and calculators are provided as a courtesy to help you estimate your mortgage needs. Results shown are estimates only. Speak with a Citizens State Bank representative for more specific information. Message and data rates may apply from your service provider.
All home lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are available for all amounts. Other restrictions and limitations may apply.