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Money Calculator

Calculate Savings With No-Name Products

This fun-to-use, simple money calculator will show you how much money you'll save over the course of your lifetime when permanently switching from any given high-priced buying habit (name brand) to a functional, less-expensive equivalent, no-name product. Plus, it will also show you how much interest you could earn if you were to invest all or part of those savings as you realized them.

As you're about to see, old Ben Franklin was right: "A penny saved IS a penny earned." The pennies saved on generic products can REALLY ADD UP!

Enter your current age:
Enter the age you plan on retiring at:
Enter the age you expect to live until (be optimistic:
Enter the price you are currently paying for a higher priced name-brand product or service:
Enter the price of a lower-priced functional equivalent (generic):
Enter the number times you purchase this item per month:

Savings Per... Purchase: Month: Year: Retirement: Lifetime:
Enter the average annual interest rate you might expect to earn if you deposited these savings into an investment as they were realized:

This is how much your investment will be worth at retirement age:
This is how much you would be able to withdraw from your investment during each month of your expected retirement:
This is the total future value of your invested savings between now and your life expectancy:

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Money Calculator Results

So how does this work? For an example, let's say that you're 20 years old and plan to retire at age 55, and you expect to live to age 90. That's not unreasonable. Now, let's say that you're currently buying 8 name-brand Colas a month at $1.69 a bottle; that's just 2 per week. Suppose you switch to a generic, no-name brand of cola beverage that costs just 89 cents a bottle. Have you any idea how much money you'll save?

Get ready for a shock!

When you plug the numbers into the money calculator and calculate savings, you'll discover that at retirement age, your savings invested at 8% will be worth $14,791, and $44,125 when you're 90. Yes, forty-four thousand dollars! And that's just the savings on soda pop. Just imagine how much money can be saved on more expensive items simply by switching to generic products.

Have fun trying this out on the products you use most often. Calculate savings on generic cleaning products or medicine. The trick is, though, to invest the savings and not touch your earnings until retirement. It makes for an interesting retirement plan!

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