Free calculator
Savings Goal Calculator
Set a target, what you have already saved, an assumed return and a horizon. The result is the monthly amount required.
How much to save each month
The required contribution comes from the future-value formula for an annuity. With a monthly return r and n months, the monthly amount is (target − current × (1+r)n) × r / ((1+r)n − 1). At 0% return it reduces to (target − current) ÷ n.
The "without investing" figure is what you would need to set aside with no return at all. The gap between that and the monthly figure shown is the effect of compounding — small at low rates, large over long horizons.
Keep the assumption honest
A 4% return is a planning assumption, not a guarantee. Cash savings may return less; investments can fall in the short term. If the goal has a fixed date, weight the plan toward lower-risk accounts as the date approaches.
Frequently asked questions
Does the calculator assume monthly contributions?
Yes. Contributions are added monthly and the annual return is compounded monthly.
What return should I assume?
Use a conservative net figure after fees and taxes. For short goals, closer to a savings rate; for long goals, a diversified portfolio average.
What if I already have part of the goal?
The starting balance grows for the whole period, which reduces the monthly amount needed.
Can I use it for a house deposit?
Yes. Set the target to the deposit plus purchase costs and keep the horizon short enough that the return assumption stays conservative.