Savings goal calculator
Set a target and a deadline. See the monthly saving it needs, and what changes if you start with more or wait longer.
Runs entirely in your browser. Nothing you type is sent anywhere.
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years
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%
Save every month—
- You’ll put in
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- Interest earns
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- What you have grows to
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An illustration at a constant rate, not a forecast or advice. Real rates and returns change over time.
How to use the savings goal calculator
Savings are assumed to be added at the end of each month and to earn the yearly rate ÷ 12 every month. The monthly amount is (Goal − Current × (1+i)n) × i ÷ ((1+i)n − 1), where i is the monthly rate and n the number of months.
- Enter your goal and how many years you have.
- Enter what you have already saved for it.
- Enter a return you expect on the savings.
- Drag the time slider to see how waiting longer lowers the monthly amount.
Questions
Should I include inflation?
If the goal is a future price, yes. Use the inflation calculator to turn today’s cost into the future cost, then enter that as the goal.
What if the result is zero?
What you already have will grow past the goal by itself at that return, so no monthly saving is needed.
Why are there sliders under every box?
So you can see cause and effect. Drag the rate, time or amount and the result, chart and comparison update as you move. Type in the box when you need an exact figure.
Is this calculation exact?
It uses the standard formula. Banks and fund houses may round differently, charge fees or deduct tax, so treat the result as a close estimate and confirm with them.