Savings Goal Calculator
Use this free savings goal calculator to turn any goal, a car, a deposit, a wedding or Hajj, into a simple monthly number you can actually plan around.
Savings Goal Calculator
Tell us your goal and when you want it, and we will work out how much to put aside each month.
Use a 0% return for plain cash savings, or a careful figure if you invest. Investing can lower the monthly amount you need, but the value can also fall, so keep short-term goals in safe savings.
How it works
The tool works backwards from your goal. It grows whatever you have already saved at your chosen return, then works out the monthly amount needed to cover the rest by your target date. A higher return lowers the monthly amount you need, but it also adds risk, so the safe rule is to keep short-term goals (within a few years) in cash savings and use investing only for longer goals. See how to set financial goals and compound interest.
Frequently asked questions
How much should I save each month?
Enough that your monthly amount plus expected returns reaches your goal by the date you set. The calculator gives you that figure; if it feels too high, extend the timeline or trim the goal.
Should I invest my savings to reach the goal faster?
For goals within two or three years, keep the money in safe cash savings, because markets can fall at the wrong moment. For goals many years away, investing can do a lot of the work for you, as the returns column shows.
What return should I assume?
Use 0% for plain cash savings. If you invest for a long-term goal, a careful figure such as 8 to 12 percent before inflation is common, but remember returns are never guaranteed.
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