That said, for those of you who are curious, I took the liberty of adding the basic compound interest calculator below so anyone interested can see how saving even a little bit each month can really add up over time.
Hint: If you don't know what to put for Interest Rate, then try this. If you're saving for something within the next 5 years use an interest rate of about 2% or 3%. For goals ranging 5-12 years in the future, use a 5% or 6% interest rate, and for anything over 12 years, you can try 7% to 8%. That will give you a fairly safe, conservative estimate.