It’s been almost five years since 2020 came and went. Looking back, it was a year that changed how people thought about almost everything, including health, socializing and money. I could have done the math myself, but I asked ChatGPT how much I’d have now if I’d saved $100 a month since then.
That question seemed simple, but it felt like the right time to ask it. The years since 2020 have been marked by economic swings, from shutdowns and stimulus checks to inflation and higher borrowing costs. Many Americans went from building record savings to spending them down.
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During the height of the pandemic, government relief and fewer opportunities to spend led to what the Federal Reserve called roughly $2.3 trillion in excess savings across U.S. households. The personal saving rate more than doubled, rising from 7.25% to nearly 18% in early 2020, another Fed study found. But by 2024, most of that cushion had been spent, and only about half of Americans still had three months of expenses saved, according to data from the Federal Reserve.
With that said, GOBankingRates explores ChatGPT’s response to the question above.
What ChatGPT Said About the Math
ChatGPT said saving $100 each month for 70 months — January 2020 through October 2025 adds up to $7,000. However, that’s just if I stashed the cash in my sock drawer month after month. If I had kept those deposits in a high-yield savings account earning around 4% interest, it said the total would have grown to $7,635. If that same $100 had been invested in a basic index fund earning about 7% annually, ChatGPT said the total could have reached roughly $8,400.
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Why It Matters
ChatGPT reminded me that skipping those $100 deposits didn’t just cost me $7,000 in missed savings. It also meant losing the growth that can happen in the background, as money earns interest month after month. Even a few hundred dollars of growth is still progress, it said, pointing out that it was money that could have built up without me lifting a finger.
ChatGPT’s answer also reinforced a larger point: Saving regularly matters more than waiting for the perfect time to start. The last few years have been unpredictable, and many Americans have had to use the savings they built up during the pandemic.
And although the past few years have shown how quickly savings can disappear when costs climb, building the habit of setting money aside, even in small amounts, can make it easier to pick it back up when things improve.
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This article originally appeared on GOBankingRates.com: I Asked ChatGPT How Much I Would Have Now If I’d Saved $100 a Month Since 2020
