How much do you spend on eating out each month? What about coffee? Cutting down your spending on a common daily habit can have a significant impact on your savings. To see how much more you can save, use our calculator. Enter the daily habit you’re looking to reduce spending on, the amount you currently spend per week on it, how much you want to cut spending on it and your target savings amount. The calculator will tell you how much more you can save over a period of time by reducing your spending on your daily habit.
Learn How Much You Can Save By Spending Less on Daily Habits
Now that you see how easily you can increase your savings by reducing your daily spending, consider investing your extra money in a high-yield money market or certificate of deposit (CD) account from Nationwide Bank®.
By investing in a money market account, you can enjoy competitive interest rates while having easy access to your funds. We also offer competitive CD interest rates and flexible terms, from 3 months up to 5 years.
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Vice to reduce – Select the daily habit you will cut: eating out, smoking, drinking, shopping or other.
Current spending per week – The average amount you currently spend on it each week.
Reduce spending by – The percentage you wish to reduce your spending.
Goal to save – The target amount you wish to save by cutting expenses.
Savings per month – The total you should be able to save each month by cutting your spending.
Expected rate of return – The annually compounded rate of return you expect from your investments.