Saving for a house deposit, car, wedding or emergency fund? This free savings goal calculator shows how long you need to reach your target, or how much to put aside each month to hit a date. It includes interest, a growth chart and 25%, 50% and 75% milestones, so you can see your progress before you start.
How to use:
- Choose whether to find the time needed or the monthly amount.
- Enter your goal, what you have saved and the interest rate.
- Add your monthly deposit, or the time frame you want.
- Click Calculate to see your timeline, interest earned and milestones.
Q: How long will it take to reach my savings goal?
A: Enter your goal, what you have already saved, your monthly deposit and the interest rate. The calculator shows the time needed and the date you will reach it.
Q: How much should I save each month to reach a goal by a certain date?
A: Choose “Monthly amount to reach my goal”, then enter your goal and time frame. You will get the monthly amount, plus the weekly equivalent.
Q: Does the calculator include interest?
A: Yes. Interest is compounded monthly on your balance. If your savings earn nothing, set the rate to 0.
Q: What are the milestones for?
A: They show when you will hit 25%, 50%, 75% and 100% of your goal, so you can track your progress along the way.
