🎯 How Calculations Work

Time to Goal: Calculates months needed to reach target with regular contributions and interest earnings.

Interest Boost: Shows free money earned from compound interest—even high-yield savings accounts add up!

Formula: Future Value = Current Savings × (1 + rate)^periods + Monthly Contribution × [((1 + rate)^periods - 1) / rate]

💡 How to Use Results

• Timeline: Realistic goal date helps with planning and accountability
• Total Contributed vs Final Amount: See how interest accelerates wealth building
• Impact of Different Rates: High-yield (4-5%) beats regular savings (0.01%) by hundreds annually
• What-If Scenarios: Increase monthly contributions to reach goal sooner

💪 Strategies to Reach Goals Faster

• Higher Interest Account: Move to high-yield (4-5%) and earn more with zero extra effort
• Increase Monthly Amount: Even $50 more/month compounds significantly
• Automate Savings: Auto-transfer on payday = "pay yourself first"
• Cut One Expense: Skip $5 coffee daily = $150/month = $5,400/year
• Use Windfalls: Tax refunds, bonuses, gifts accelerate goals
• Side Income: Freelance gigs turbocharge timeline

📊 Real-World Examples

• Emergency Fund: $10,000 at $300/month = 33 months. With 4% interest = even faster!
• Vacation Fund: $5,000 at $100/month = 50 months. Increase to $200/month = 25 months (2x faster)
• Down Payment: $50,000 at $500/month = 100 months. With $750/month = 67 months (33 fewer months!)