Skip to main content Skip to footer

Large Expense Savings Calculator

How can I save for a big ticket item?

Are you saving for a big ticket item? A car? A boat or motorcycle? A wedding? Use this calculator to figure out how long it will take.1

Saving for a big ticket item can be an exciting but daunting task. TDECU is here to help you, our valued credit union Member, reach your financial goals. Using this calculator, you can set a goal toward your considerable expense and calculate how much you will need to save each month. Factors such as tax rates and rates of return may impact savings goals and are good to keep in mind to ensure your goal is met.

Your Information

Savings Goal Calculator Key Terms

  1. Annual Rate Of Return
    A large portion of retirement funds is held in stocks. These figures estimate how much is expected in return annually from investments before retirement. The average rate of return for S&P 500 averages 6.6%, while financial institutions like TDECU may pay up to 0.99% with no risk compared to a higher-risk stock market return.
  2. Inflation Rate
    Inflation is the decline of purchasing power over time. $1 now is worth less than $1 in the future. Inflation may not have a significant impact in the short term, but inflation has an effect in longer periods such as between now and the age of retirement. Inflation can range anywhere from less than 0 up to a double-digit percentage while mostly hovering between 2% and 4%.
  3. Your Federal Tax Rate
    Federal tax rates are a progressive tax system where incomes are taxed at different rates as income increases. Tax rate can be anywhere from 10% up to 37% for taxable income over $539,000 for individuals.
  4. Your State Tax Rate
    Texas is one of nine states that does not have a state income tax. Other states have income taxes between 0.33 and 13.3%.
1Our financial calculators are provided as a free service to our Members. The information these calculators supply is from various sources based on calculations we believe to be reliable (but are not guaranteed, explicit, or implied) regarding their accuracy or applicability to your specific circumstances. All examples are hypothetical and illustrative and do not intend to provide investment advice. TDECU does not accept any liability for loss or damage whatsoever, which may be attributable to the reliance on and use of the calculators. Use of any calculator constitutes acceptance of the terms of this agreement. TDECU recommends finding a qualified professional for advice about your personal finance issues.