Savings Goal Calculator
Find out how much to save each month to hit your target by a date, or how long your current plan will take. Interest is included.
Result
Projection
Balance climbing toward your goal (dashed line).
About
This works out the saving needed to reach a target, including the interest your savings earn on the way. Returns are an assumption, not a guarantee, so try a few rates. This is general information, not financial advice.
Files are processed in your browser and never uploaded.
How to use Savings Goal Calculator
Enter your figures
Fill in Goal amount, Already saved, Currency symbol and Years to save. Values you change are used straight away, with no submit button.
Adjust the assumptions
Fine-tune Expected return % / year to match your own situation.
Read the results
The Result, Projection and About update as soon as a value changes.
What this tool does
Find required monthly saving
Enter the target, what you have already, the date you want it by and a return, and it gives the exact monthly amount.
Find time to reach a goal
Switch to the second mode, enter what you can save each month, and it tells you the date you reach the goal.
Includes interest growth
Interest compounds on the balance including the contributions, so the monthly figure is lower than dividing the target by the months.
Projection chart
The projection chart shows the balance growing, and separates what you contributed from what the interest added.
Frequently asked questions
How much do I need to save each month?
Enter your target, your starting amount, the date you want it by and an interest rate, and the calculator returns the exact monthly amount. Interest is included, so the figure is lower than simply dividing the target by the months.
Can it tell me how long a plan will take instead?
Yes. Switch to the second mode, enter what you can save each month, and it returns the date you reach the goal and how much of it came from interest.
Does it account for interest?
Yes, compounded on the balance as it grows, including the contributions you add along the way. Set the rate to 0 if the money is sitting in an account that pays nothing.
Is inflation included?
No. The result is in today's money at the rate you enter. If the goal is years away, either raise the target or use the compound interest tool, which does model inflation.
Is anything I enter uploaded?
No. The whole calculation runs in your browser and nothing is sent or stored on a server.
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