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New MSE Savings Calculators
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Former_MSE_Dan
Posts: 1,593 Forumite
Hi guys
Calling all Guinea Pigs! We've developed a couple of savings tools to help people figure out all manner of information about their savings. We'd love to hear your opinions and feedback on their usability and possible improvements you'd like; we can't promise they'll all be adopted but any feedback is a great help.
Give them a try:
http://www.moneysavingexpert.com/savings/savings-calculator
http://www.moneysavingexpert.com/savings/isa-calculator
Cheers,
Dan
Calling all Guinea Pigs! We've developed a couple of savings tools to help people figure out all manner of information about their savings. We'd love to hear your opinions and feedback on their usability and possible improvements you'd like; we can't promise they'll all be adopted but any feedback is a great help.
Give them a try:
http://www.moneysavingexpert.com/savings/savings-calculator
http://www.moneysavingexpert.com/savings/isa-calculator
Cheers,
Dan
Former MSE team member
0
Comments
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Just tried both calculators and they seem very fast and efficient. No problems at all. Thank you0
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I have tried the savings calculator and the one that estimates how long it will take to save up for something appears to have a glitch (unless it's me LOL).
I said I need to save £5000
I have £50
I can save £50
At 5% with no tax.
It then said that To save up £50, with £50 saved will take no months
It even says that same if I say I want to save £100,000. 0 -
Some comments:
1. Using Firefox 2.0.0.9 there is no 'submit' button, when using the ISA calculator. It appears as an 'x' when using IE7.
2. Are the calculators, giving the correct figures?
I have just tried saying I have £100 earning 6.3% for one year - paying no tax and both calculator's report that I would have 105.76 at the end of the year - rather than £106.30 which I believe should be the correct figure.
3. It would also be useful if you included a question asking if interest is paid monthly or annually as that can make a difference re: compounding or if someone is quoting the gross rate or AER.
Regards
Sunil0 -
I have tried the savings calculator and the one that estimates how long it will take to save up for something appears to have a glitch (unless it's me LOL).
I said I need to save £5000
I have £50
I can save £50
At 5% with no tax.
It then said that To save up £50, with £50 saved will take no months It even says that same if I say I want to save £100,000.
Don't worry, it's not you, I get the same thing (unless it is both of us?!!) xGone ... or have I?0 -
The Isa calculator is for monthly deposits and seems to work ok but I put my maximum deposit into my Isa annually so that would make a difference to the calculated interest resulting in higher totals over the years.0
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This also happens on the other calculator if you try and go for the other 2 questions (am using firefox too). Pity as it seems quite nifty otherwise.0
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Using the savings calculator:
Initial.........£10,000
Per month...£0
Duration.....one year
Int Rate.....10% (just to make it easier
)
Tax rate.....non-tax payer
I get £10,912.98 back.
Who gets the other £87.02 ?0 -
Hi guys,
Keep it coming.... all the above is great (that's why we tested it here before going live)...
As well as the above two things we've yet to do
1. If you dont fill in all the fields, it still calculates - that's not good, in future it wont calculate and will as you to work all the fields
2. The top graphic will say "Pick Your Question"
Of course changes will also be made because of the feedback here; keep it coming.
MartinMartin Lewis, Money Saving Expert.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 0000 -
MSE_Martin wrote: »....that's why we tested it here before going live...
Err ... right. But who tested it ... before it was put on here to test?;)
You haven't got the guys who wrote the tax credits software helping have you?If you want to test the depth of the water .........don't use both feet !0 -
A bit
Savings calculator
Starting from scratch at a rate of 6% it says I need to save £176.99 for 10 years to reach my target of £30,000. I make it that I need to save £182.30 (adding 0.5% per month) which I guess is slightly more than 6%.
Cash ISA calculator
If I save £176.99 at 6% I only end up with £28,756.17 after 10 years (the savings calculator said I'd have £30K - can I sue? :rotfl: - only kidding. If I save £184.65 I reach £30,000.72 after 10 years
Savings calculator
Saving £10 per month at 0% for 1.5 years and 1.5 months gives me £200 after 1 year and 7.5 months." After saving £10 a month for 1 year and 7.5 months,
you will have £200.00 in savings"
Saving £10 for 1 month at 1000% only gives me £10 after 1 month
and just £22.21 after 2 months.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0
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