FREE 8+ Savings Calculator Templates in Excel

When it comes to money, we always want to make the most out of what we earn and we do that through saving. How will you know that you have actually saved? You would actually do a backtrack on your expenses and see if there is any difference between your previous spending and current spending. That would take a lot of time and may not be accurate at all. But there is actually a more convenient and easy way for you to do that and that is with the use of a savings calculator.

What is a savings calculator? A savings calculator is a document or a template that helps in efficiently checking and tracking how much one has saved on something or how much savings did an entity make based on their efforts to do so. Truth is, you can’t actually save if you don’t put any effort into it. A savings calculator can help you get started with your savings by helping you record all the money that you are trying to save and tell you if you are near your target amount.

Not saving in a bank? No problem! There are actually different savings calculators that you can use to help you save on various expenses, like fuel, groceries, furnace, electricity, water, and many more! We have calculator spreadsheet samples and templates that you can view and download below!

Fuel Savings Calculator

Energy Savings Calculator for Replacing Light Bulbs

Time Clock Savings Calculator

Idling Reduction Savings Calculator

Dryers Savings Calculator

Furnace Savings Calculator

What is a Savings Interest Calculator?

If you have a savings account in a bank, it is likely that you will be earning interest for doing so. The interest you will be earning depends on how much money you have saved. The more money you have in your account, the bigger the interest rate you will get. A savings interest calculator helps one determine how much interest an entity can earn based on the amount of money that they have in their account. It is another way of earning money, but not that much. Although you earn money constantly, they are not always that much. So, if you intend to earn more money, invest in something that can actually get you more money. But if you just want to save money and make it grow over the years, a savings account will work for you.

The following are the things needed to calculate one’s savings’ interest:

• The initial deposit in the account.
• Recurring deposits or additional deposits.
• The length of time one will be saving.
• The interest rate per year.

The information required and the data that will be supplied will vary depending on the account holder and the banking institution they are working with. You may check out our savings account calculators to know more about savings calculators and other samples.

Why Should You Use a Savings Calculator?

Savings calculators are very useful and very efficient tools that are created to make our lives better. Here are some of the reasons why you should use it.

• It helps you determine if you are able to save on something or not. It’s actually hard to tell if you are able to save on your purchases or not. At one time you may be able to tell that you have saved on a purchase, but prices change on some things on a daily basis. A savings calculator will help you easily determine if you are actually able to save.
• It allows you to keep track of your savings. Because there are a lot of things that you buy and spend on regularly, it would seem impossible for you to keep track of them. But with the use of a savings calculator, you can record and keep track of those expenses without any difficulty.
• It helps you become aware of your expenses. Since you can record your expenses on a savings calculator template conveniently, it will allow you to see how much you have spent on something so far, which keeps you aware of the things that you need to cut cost on.
• Enables you to learn techniques and skills on how to save big. Saving could be a trying thing to do, especially if your hobby is spending. Savings calculators include tips and tricks on how you can save. It also allows you to learn the value of saving for the rainy days.
• Lets you follow your budget strictly. Because you are aware of your expenses, you will be able to tell what are the important ones or your needs. If you only spend on what matters then you will surely be able to stick to a strict budget.
• It helps you reach your goals. You save because you have a goal and using a savings calculator will help you realize that goal by showing you how much you have saved so far. This also further motivates you to work on it even more.
• Teaches you to handle your money more efficiently. If you know how to save, then you will definitely know the value of your money, which will help you to handle it more efficiently. We don’t pick them up in the streets, you know, and they definitely don’t just pop up anytime we need them. We worked hard for them, that is why it is just right to handle them efficiently.

Other available calculator samples and templates are on our websites, like home affordability calculator samples and templates, net worth calculator samples and templates, and home mortgage calculator samples and templates.

What is a Fuel Savings Calculator?

If you want to save on your fuel spending, the best tool to use is a fuel savings calculator. This useful calculator helps you keep track of how much you are spending and how much you are able to save on your fuel expenses for a particular period of time. It does not only focus on your fuel consumption, but it also includes an input other factors that affect your fuel consumption such as the tires you use, the engine condition, and many more.

Savings Calculator Template with Samples

Simple Savings Calculator Template

Yearly Personal Savings Calculator

How to Use a Savings Calculator Template

Is it difficult to use a savings calculator? No, it isn’t. It is actually pretty easy to use, not to mention that it is a very convenient calculating tool. So to help you further, here are some steps that can guide you with using a savings calculator template.

• First, download the savings calculator of your choice. There are different savings calculators available online. Some come with a fee and others can be downloaded for free. If you don’t mind spending a little, then you can go for the paid templates. But, if you don’t want to spend a penny, there are surely a lot of free and wonderful calculator templates that you can get online.
• After downloading the file, look for its download location on your laptop or computer. When you have found it, double-click the file to launch the application it is using. You can also right-click the file and choose the open option to launch it.
• Wait for it to load. You will know that it is loaded because you will see the entire sheet appear right before your eyes just like magic. Well, not really magic.
• Now, don’t be expecting a picture or a drawing of an actual calculator on your screen. No, you won’t see that in your template. Instead, what you will see are columns and rows that require data to be entered. Each one of them is labeled. You will need to gather all the required data to fill in the empty cells.
• Each cell in the template is already programmed with the correct formula to do the calculations.
• After putting in all the needed information, the calculator will automatically provide you with the actual result and not the details of the calculation.
• Once you are done, you can either save the changes that you have made so that everything is there when you reopen the file and make changes. Or you can also opt not to save any changes so that it will be a blank template when you reopen it and enter new data. You can also print a copy of the changes you made to the file.

It’s that easy to use! No hassle and definitely no manual computations involved! Check out more free calculators on our website. To name a few are paycheck calculators samples and templates, sample monthly expense calculators, and sample Excel mortgage calculators.

Advantages and Disadvantages of a Savings Calculator

We have made a list below of the different advantages and disadvantages of a savings calculator that you need to know.

Advantages

• Savings calculators make the calculation of both small and large numbers easier and convenient.
• There is no need for you to memorize any formula or calculate manually using an actual calculator as the savings calculator will do that for you. The formula needed to do the computation is already programmed on the appropriate sheets.
• There are different varieties of savings calculators that you can choose from online. A lot of them are free and downloadable so that you can use them as your own personal savings calculator.
• It helps motivate individuals or entities to save and aim for their savings goals. Aside from that, savings calculators are also good for those who wish to start their saving journey.
• Almost all of the savings calculators online are editable.
• Using savings calculators will give you accurate results.

Disadvantages

• Not everybody is knowledgeable about using Excel spreadsheets, so learning to use it might be quite a challenge for some.
• Some savings calculators are only available online, so an internet connection is needed on top of needing a laptop, computer, or other gadgets. Also, internet connection is needed to download the savings calculator templates.
• It takes focus and determination to get started with your savings that even if you have a savings calculator if you don’t have any determination to start, you will really never be able to do it.
• Accurate results will only be possible if the data entered are correct and on the appropriate fields.

Check out our website to see more calculator samples like sample annual payment calculators, sample payroll hours calculator, and many more!