Savings Plan Designer
This calculator shows you how much money you must contribute each
month to an interest-bearing bank account or investment fund in
order to reach your savings goals.
Parents should try to save at least half the projected costs
of their child's college education. Ideally the savings plan (in
the parents' name) should be established when the child is born,
but it is never too late to start saving. (To reach $35,000, you
would need to contribute $25.12 per week for 17 years to an account
that earns 5% interest.)
If you're trying to analyze the effectiveness of your current
savings plan, you may want to use the Savings Growth Projector
instead to calculate the growth potential of your current contributions.