Military Education Department
Personal Financial Management (PFM)

This calculator helps you to understand how much money you can accumulate by saving small amounts of money each week. Enter the amount you plan to add to your account each week, and the expected interest rate. The calculator will show you the amount that will accumulate over different time spans.

Knowing the value of a good savings plan helps you see your savings are growing.

Contribution		Total Savings
Weekly contribution - Enter a small amount of money that you can imagine yourself being able to put aside on a weekly basis. If you can only imagine $5 per week, try it just to see what happens over the long haul.		1 year value - This is the total amount of your savings at the end of 1 year.
		2 year value - This is the total amount of your savings at the end of 2 years.
		3 year value - And so forth...
		4 year value
		5 year value
Interest Rate - Enter the interest rate you expect to earn. To give you two ideas, current CD rates run between 3.55% and 3.66%, while the stock market has returned an average of 11% or so for many years. 12% is an amount that a shrewd investor might hope to get over a long period of time. For 6%, enter 6 in the entry field.		10 year value
		15 year value
		20 year value
		30 year value
		40 year value
Click this button to calculate your savings.		50 year value
Click this button to calculate your savings.

Run several examples to convince yourself that even small amounts of money, accumulated a week at a time, can add up to huge totals over the course of time. This simple realization forms the basis of retirement planning, saving for a child's college education, building a down payment for a new house, etc.

Note: These calculations are estimates and are only provided to give you some general guidelines , although we believe the calculations to be correct, we do not guarantee the results. For more information or assistance with your personal finances, Please consult your financial advisor or lending institution before making any final financial decisions.

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Assistance

Counseling

If you have questions or need assistance after graduating from the SDCC Military PFM course contact one of the counselors listed below:

Army - E-mail

Anthony Powell – Ft. Bliss, TX
Wk Ph: 915-568-4453,
DSN: 978-4453
Email: anthony.powell1@us.army.mil

Navy - E-mail

Mike Kempf – Pensacola, FL
Wk Ph: 850-452-3228,
DSN: 922-3228
Email: mikekempf@bellsouth.net

More information

New Links 10-21-2008

Calculators

Glossary

Common terms in financial planning

General Information

SDCC has articulated the Navy PFM course for one college credit. Navy personnel who have graduated from the Navy PFM course qualify. Typically, it can be difficult to apply one credit and meet the requirements of a three credit semester long course at most colleges and universities. With that in mind, we have taken the initiative of developing a two credit online course that will be available upon completion of the Navy PFM course. Sailors who have completed the requirements of both the Navy PFM course and the online PFM course will be given credit for completing the three credit Consumer Studies 110 course offered by San Diego City College and Mesa College and transferable to any Servicemembers Opportunity College (SOC).

For additional information or to see if you qualify contact a PFM counselor.

Military Pay Chart - 2008 3.5% Pay Increase

E-mail the Webmaster
Michael Steffens
Phone: 847-746-2790
Fax: 847-746-2791

Military Education Department Personal Financial Management (PFM)

PFM Contact Information Darrell Himmelspach dhimmels@sdccd.edu Phone: 847-746-2790 Fax: 847-746-2791

Program Managers

How is your financial fitness?

You can find out by taking the quizzes below Financial Fitness Quiz or Financial Fitness Checkup

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Additional Course Information

Estimated Saving Calculator