About the Savings Goal Calculator
Work backwards from a goal, like a house deposit, car, wedding or emergency fund, to the monthly amount you need to save, including interest on your current savings and deposits.
Key features
- Monthly savings needed to reach a goal by a deadline
- Or: how long it takes at a given monthly amount
- Includes current savings and interest earned
- Contributions vs interest breakdown
- Works for emergency funds, trips, down payments and more
- Multiple currencies
Reach your savings goals
Whether it's an emergency fund, a holiday, a car, a wedding or a home down payment, a clear monthly target makes goals achievable. Choose whether you know the deadline or the monthly amount, and the calculator solves for the other.
Example: 20,000 down payment in 4 years
Starting with 2,000 in a savings account earning 4%:
| Item | Amount |
|---|---|
| Monthly saving needed | ≈ 340 |
| Total deposited | ≈ 16,308 |
| Interest earned | ≈ 1,692 (on savings and deposits) |
Monthly saving needed by time frame
Goal 10,000, starting from 0, at 4%:
| Time frame | Per month |
|---|---|
| 1 year | 818 |
| 2 years | 401 |
| 3 years | 262 |
| 5 years | 151 |
Saving tips
- Pay yourself first: set up an automatic transfer on payday.
- Use a separate account so the money isn't spent by accident.
- Save windfalls such as bonuses, tax refunds and gifts.
- Track progress monthly and adjust if your income changes.
For planning purposes only; not financial advice.
Related calculators
Invest monthly with the SIP Calculator, or see long-term growth with the Compound Interest Calculator.
How to use the Savings Goal Calculator
- Enter your numbers in the fields above. Units and options can be changed at any time.
- The result updates instantly as you type; there's no calculate button to press.
- Check the breakdown under the main result for the details behind the number.
- Adjust the inputs to compare scenarios, for example a different rate or term.