Daily savings value calculator
What is the value of saving a certain amount every day?
If you are organised with your finances and in a position to put aside a certain amount of money each day, the Daily Savings Value Calculator can help you work out the cumulative value of your daily savings over a number of years. The first step to reaching your saving goals is to find a savings account that offers a competitive rate of interest. This ensures that your money will grow - ideally well above the rate of inflation. One way to keep yourself disciplined with your daily savings is to set up a direct debit, so that you do not even have to think about the money leaving your account.
If you do this however, rather than having a set amount leaving your account at the start of the month, do ensure that you leave enough in your account so that you can make the transfers at the end of the month. There's no point going to the effort of saving if you then get charged by your bank for having insufficient funds to honour a direct debit! Alternatively, you could take the 'old-fashioned' approach and keep a money bank in your house where you store all of your spare pounds. At the end of the month, take the money to your bank and deposit it straight into your savings account. The Daily Savings Value Calculator will help you work out your total savings and interest, but the actual saving method is up to you!