Savings Goal Calculator
🏠 Free ToolCalculate how much you need to save each month to reach any financial goal. Factor in your current savings, expected investment returns, and time frame to get a personalised savings plan.
How it Works
This savings goal calculator tells you exactly how much to set aside each month to reach any financial target. Enter your goal amount, current savings, expected annual return, and time horizon to get a clear action plan.
The tool accounts for compound interest on both your existing savings and future contributions, showing you the powerful effect of consistent investing over time. The breakdown chart illustrates how much of your final balance comes from your own contributions versus investment growth.
Use this calculator when planning for a home deposit, a major purchase, education expenses, or any other financial milestone. By adjusting the return rate and time frame, you can explore different scenarios and find the right balance between monthly savings and investment risk.
The progress chart tracks your projected wealth year by year, giving you a visual roadmap from where you are now to where you want to be. Pair this tool with our inflation calculator to ensure your goal amount accounts for rising prices.
Frequently Asked Questions
How is the monthly savings amount calculated?
The calculator uses the future value of an annuity formula, accounting for your current savings growth and the additional monthly contributions needed to bridge the gap to your goal.
What return rate should I assume?
A diversified stock portfolio has historically returned 6–8% annually before inflation. A balanced portfolio (stocks + bonds) averages 4–6%. Use a conservative estimate for safety.
Does this account for taxes on investment gains?
This calculator shows gross returns before taxes. Actual results depend on your tax jurisdiction and account type. Consider tax-advantaged accounts to maximise growth.
What if I already have savings?
Enter your current savings and the calculator will account for their growth over the time frame, reducing the monthly amount you need to save.
Can I use this for any savings goal?
Yes — whether saving for a home deposit, a car, education, a holiday, or any other target, the math works the same. Just enter your goal amount and timeline.
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