Savings Goal Calculator
Find out how much to save each month to reach your goal by a target date.
How the savings goal is calculated
The calculator grows your current savings at the expected rate, then works out the level monthly deposit needed to fill the remaining gap by your deadline. Interest helps, so higher returns reduce what you must save.
Making a goal realistic
If the monthly amount feels too high, extend the deadline, lower the target or find extra income. Put the transfer on auto-pilot the day you are paid so saving happens before spending.
Worked example
Last reviewed November 2026. Formulas are standard and shown in the sections above; results are estimates.
Tips and common mistakes
- Keep short-term goals in a high-yield savings account, not the stock market.
- Name your goal, such as house deposit or emergency fund, to stay motivated.
- Revisit the plan every 6 months.
Learn more
Frequently asked questions
What return should I use?
Savings accounts are lower than investments. Use the account's current rate for short goals.
Does it include inflation?
No. For goals many years away, raise the target a little to allow for inflation.
Are deposits at month end?
Yes, we assume deposits at the end of each month.
Money guides for this topic
All guides →How to Make a Budget in 5 Simple Steps
A beginner-friendly guide to building a monthly budget that you can actually stick to.
Read guide →How to Save Money: 10 Practical Ways with Real Numbers
Ten proven ways to save money, each with the math showing how much you can keep every year.
Read guide →Emergency Funds and Rent vs Buy: Two Big Early Decisions
How many months of cash to hold, and how to compare renting with buying using total cost rather than gut feeling.
Read guide →Related calculators
Compound Interest Calculator
See how savings or investments grow with monthly contributions and compound interest. Free and instant.
Open calculator →Simple Interest Calculator
Calculate simple interest and the final amount on a loan or deposit. Free and instant.
Open calculator →Savings Interest (APY) Calculator
Convert APR to APY and see how much a savings account earns with compounding.
Open calculator →Results are estimates and not financial advice.