Savings Goal Calculator
Works out the monthly saving needed to reach a target.
Save each month
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Share sends a link that reopens these numbers. Copy details pastes the full breakdown as a list.
Your existing savings grow to —
Total you will pay in —
Interest earned —
The formula
monthly = (target − existing × (1 + r)^t) ÷ ((1 + i)^(12t) − 1) × i
It takes off what your existing savings will grow to, then finds the monthly deposit that builds up to the rest. r is the annual return, t the years, and i the monthly rate that compounds to r.
What to watch out for
For money needed within a few years, use a cautious rate. Cash savings do not earn what shares might.
Frequently Asked Questions
How much should I save to reach 20,000 in 5 years?
With 2,000 saved and a 4% return, about 265.44 a month.