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Savings Goal Calculator

Find out how much to save each month to reach a goal.

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$
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The rate on your savings account. Use 0 for cash.

Save each month

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Save each week
You deposit in total
Interest earned
Goal date

Results are estimates for general information only and are not financial advice. Check important figures with a qualified professional or your lender. Read our disclaimer.

When to use it

The savings goal calculator tells you how much to save each month and each week to reach a target by a chosen date. Use it to plan for a holiday, a car, a house deposit, a wedding, an emergency fund, university costs or a big purchase. Turning a large goal into a regular amount makes it feel achievable, and shows quickly whether the deadline is realistic.

How to plan a savings goal

  1. Choose your Currency.
  2. Enter your Savings goal and how much you’ve Already saved.
  3. Set the time you have in Years and Months.
  4. Enter the Interest rate (per year) your savings earn.
  5. Read how much to Save each month and Save each week, the total You deposit, the Interest earned and your Goal date.

A worked example

You want $10,000 for a house deposit in 2 years. You’ve already saved $1,000, and your savings account pays 4% a year. The calculator says to save $357.49 a month (about $82.50 a week). Over 24 months you’d deposit $9,580 in total, including the $1,000 you already have, and interest adds $420.

Making it easier

  • Automate it: set up a standing order on payday so saving happens first.
  • Round up: saving $360 instead of $357.49 builds a small buffer.
  • Use a separate account so the money isn’t spent by accident.
  • Add windfalls: put tax refunds, bonuses and gifts toward the goal.
  • Review every few months and update the calculator with your progress.

If the amount is too high

  • Extend the deadline by a few months.
  • Lower the goal or split it into stages.
  • Find a better rate: high-interest savings accounts help, especially over longer periods.
  • Cut one regular expense and redirect it to savings.
  • Emergency fund: three to six months of essential costs, built over a year or two.
  • Holiday: often 6 to 12 months ahead.
  • House deposit: usually 2 to 5 years.

Common mistakes

  • Forgetting existing savings, which makes the target look harder than it is.
  • Using an optimistic interest rate that your account doesn’t pay.
  • No emergency fund: if an unexpected bill comes up, you may have to raid the goal.

Watch savings grow over longer periods with the Compound Interest Calculator, plan for later life with the Retirement Calculator, or see how inflation affects your goal with the Inflation Calculator.

Frequently asked questions

Does it include interest on my savings?

Yes. Enter your account's yearly interest rate, and the calculator assumes it's added monthly. The result shows how much of your goal comes from interest, so you save a little less yourself.

Why is the weekly amount not exactly a quarter of the monthly amount?

There are about 4.33 weeks in a month, not 4, so the weekly figure is the monthly amount divided by 4.33.

What if I already have some money saved?

Enter it in "Already saved". It counts toward the goal and earns interest, which lowers the amount you need to add.

What interest rate should I use?

The rate your savings account pays. If you're not sure, use 0 for a cautious plan; any interest earned is then a bonus.

Is this financial advice?

No. It's a planning estimate. Interest rates can change.

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