Saving 5 pounds per day calculator
What is the value of saving 5 pounds per day?
Think of what 5 pounds can buy you nowadays. A fiver can just about buy you a meal, but it would not go very far. With the Saving 5 Pounds Per Day Calculator, you can work out how much you could actually save if you were to put away 5 pounds a day over a number of years. Simply enter the interest rate you would expect to see on your savings, and then enter the number of years over which you would be saving this amount.
An example would be if you were to put aside 5 pounds per day over five years at an interest rate of %. Your savings would grow to a total value of 9,844 GBP. You can then protect this investment by ensuring that you use up your Individual Savings Account (ISA) allowance before you use any other bank account. You can save up to 5,200 GBP in an ISA account without paying any tax whatsoever on the interest that you earn. The Saving 5 Pounds Per Day Calculator is a useful way of demonstrating that if you put away a manageable sum on a daily basis, you can have a sum of money that would soon be large enough to put a deposit down on a house, take a dream holiday or carry out some home improvements.