Savings Calculator

Work backward from a savings goal to find the monthly contribution you need to hit it on time.

Educational use only. This calculator produces estimates from published formulas and does not constitute financial or legal advice. For real decisions, consult a qualified financial planner or accountant.

This tool runs entirely in your browser — no data is sent to our servers. If JavaScript is disabled, the fully interactive version will not run; enable JavaScript to compute results.

About this savings calculator

Most savings advice tells you "save more". This calculator tells you the specific number — how much per month to set aside to reach a goal by a target date, including the bonus from any interest your savings earn.

The math is the time-value-of-money formula in reverse. You enter the goal, the timeline, any starting amount and the interest rate you expect on the savings account or investment. The calculator solves for the monthly contribution that closes the gap.

The output is a number you can put into a standing order on payday. The moment your salary lands, the savings amount transfers automatically. Out of sight, out of temptation. This single habit is the most reliable savings strategy ever invented.

How to use it

Enter your savings goal in your local currency.
Enter how much you already have set aside (if any).
Enter the number of years until you need the money.
Enter the annual interest you expect to earn — be conservative.
Set a standing order on payday for the monthly amount shown.

Tips & notes

Treat the monthly amount as a non-negotiable bill, not a discretionary expense.
Use a high-yield savings account or short-term bond fund for goals 1–3 years away. Stock-based investments are usually too volatile for goals on that timeline.
Re-run the calculator every 6 months and adjust if income, expenses or the goal change.

Frequently asked questions

What interest rate should I use?

Use the rate of the actual account you will save in. Easy-access savings accounts vary widely — current best rates are typically published in newspapers and finance comparison sites.

What if the monthly amount is too high?

Either extend the timeline, lower the goal, or raise your starting amount. The calculator shows the trade-offs immediately.

Should I save or invest for this goal?

Short horizons (1–3 years) suit cash savings. Medium (3–7 years) suit a mix. Long (7+ years) usually suit diversified investments, accepting the volatility for the higher expected return.