Savings Goal Calculator
Find out exactly how much to save each month to reach a target amount by a set date.
Last reviewed July 1, 2026
Big goals — a house deposit, a wedding, a dream trip, an emergency fund — feel more achievable when you know the exact monthly number. This calculator works backwards from your target: tell it how much you need and by when, and it tells you how much to put aside each month.
It also factors in any amount you've already saved and the interest your savings earn along the way, so the monthly figure is realistic rather than a rough guess.
How the monthly saving is calculated
The calculator grows your existing savings at the interest rate you enter, then works out the additional monthly contribution needed so that, with compounding, the total reaches your goal by the target date. If your current savings alone will already exceed the goal, the required monthly amount is zero.
A higher interest rate means the money you save earns more on the way, so you need to contribute a little less each month to hit the same target.
Making the goal stick
Automate it. Set up a standing transfer into a separate savings account on payday so the money moves before you can spend it.
Revisit the number if your timeline or target changes. Stretching the deadline even a few months noticeably lowers the monthly amount, which can make a tight goal manageable.
Frequently asked questions
▶How much should I save each month?
Enough to reach your goal by your deadline — this calculator gives you that exact figure based on your target, timeframe, current savings, and interest rate.
▶What interest rate should I use?
Use the rate on the account or investment where you'll keep the money. For a regular savings account that might be low; for longer-term goals invested in the market, people often assume a more conservative long-run figure.
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Open calculator →Disclaimer: Savings Goal Calculator results are estimates for general information and education only, and are not financial, tax, legal or medical advice. Verify important decisions with a qualified professional.