Aim to achieve financial independence by identifying your savings goals and start by making a plan to reach them.
QBANK's Financial Assistance Service is a self-guided online calculator, allowing you to work through the questions at your own pace. Once you are finished you can send yourself a copy to help keep yourself on track.
If you need a little help navigating the Financial Assistance Service calculator, we can help there as well. We have trained staff members ready to help walk you through the calculator and guide you through the process.
What are you saving for? How much do you need and by when?
How much do you earn? Any other investments you should take into consideration?
What are your current outgoings? Include everything, right down to those daily coffees.
See how much you have left after all of your expenses. You can choose to save or invest this amount to help reach your goal sooner.
Taking everything you have entered, including your option to save or invest, see when you can reach your savings goal.
You have done the easy part. Now to put it all in to practice to achieve your goals. Contact QBANK to discuss your savings account options.
This calculator is intended to be used a guide only and does not take into account all your personal or financial circumstances. It provides estimates of regular amounts to save, amounts saved and how long a savings goal may take based on the data provided. Changes to any of the underlying assumptions, such as changes to interest rates can significantly impact the overall calculations. QBANK does not store any information entered into this calculator. You should obtain professional financial advice before making any significant financial decision.
The calculator operates under the following assumptions:
It assumes you reinvest any interest earned back into the savings account.
It makes no allowance for inflation (we suggest you allow for future price increases when setting your savings goal).
It makes no allowance for any income tax payable on the interest earned, or for extras such as account or transaction fees.
The indicative total amount at the end of the period assumes no withdrawals, debits, fees or charges are processed from the account.
It uses a constant interest rate for the full savings period. It compounds on the same weekly, fortnightly, monthly or annual basis as the frequency of savings payments you select.
It assumes each year is divided into 52 weeks, 26 fortnights and 12 months of equal length. And that you make regular savings payments at the start of each period (week, fortnight, month, quarter or year as you select).