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Calculate how much to save each month to reach your goal
Fill in the fields and click Calculate to see your results
The Savings Goal Calculator works backwards from your target: given a goal amount, a time period, and any existing savings, it tells you exactly how much you need to set aside each month (and each week) to reach the goal on time. This is useful for any defined savings target — an emergency fund, a house deposit, a vacation, a car, or tuition. By making the required monthly savings explicit, you can immediately see whether the goal is achievable within your budget or whether you need to extend the timeline, increase income, or reduce the target.
1. Enter your goal amount — the total you want to save. 2. Enter the time period in months — how long you have to save. 3. Enter your current savings toward this goal — money already set aside (not your total net worth). 4. Click Calculate. You'll see the monthly savings required, the equivalent weekly figure, and the remaining amount still to be saved after accounting for your current balance.
No — this calculator uses simple linear math without interest. If your savings earn interest, you'll need slightly less per month than the calculator shows. For goals with long timelines and meaningful interest rates, factor in compound growth to get a more accurate figure.
You have three levers: increase the time period, reduce the goal amount, or find ways to increase your monthly savings capacity. Even small increases to the time period have a large impact on the required monthly contribution.
Start with your budget's remaining amount after expenses. That's your maximum monthly savings capacity. Then set a goal amount and adjust the time period until the required monthly savings fits within your capacity.
Only if the goal you're calculating IS the emergency fund. For other goals, don't include your emergency fund — it's not available to spend on a separate goal.
Yes. Enter the deposit amount as your goal, the number of months until you want to buy as the time period, and whatever you've already saved toward the deposit as current savings. The calculator tells you the monthly amount needed to hit your deposit target.