How Long Will It Take to Save up for That Big Wish List Item?

Posted May 10 2014
by PenFed Team
drawing of hand putting coin in piggy bank

When you save up for that big wish list item, you’re earning interest all the while — so that’s money in your pocket. When you jump the gun and charge it instead, though, you’re digging a hole that gets deeper every time you make a monthly payment with interest on the bill — and that’s money down the drain.

It always helps a goal seem a little more attainable when you know exactly what it takes to get there. How much will you need to sock away for how long until that shiny new thing is all yours? Plug in the numbers to our handy calculators and find out how much your money will grow.

How much will your money grow in a Money Market Savings account?

Some of Our Other Favorite Wish List Calculators:

Should you buy a house or continue to rent?

How much car can you afford?

What could a personal loan help you afford?

Can you afford to finance a boat?

Can you afford to finance a recreational vehicle?

Are you ready to take on a fixed-rate loan?

Of course, if you’ve already saved up a big chunk of cash — or maybe your tax refund is burning a hole in your pocket — probably all you need is a quick reminder to control any impulse spending. Just tell them you learned your financial acumen from your dog.

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