Savings Goal Calculator
How much to set aside each month to reach a target by a given date.
Your figures
Result
How to use this tool
- Enter your own figures over the defaults — Savings goal, Already saved, Annual return and the rest.
- The answer updates as you type. There is no button, and nothing is sent anywhere.
- Change Annual return on its own to see how much it moves the result — the worked example below shows exactly that.
This accounts for growth on both your existing savings and the new contributions, so the monthly figure is lower than simply dividing the goal by the number of months.
How it works
This takes 4 inputs — savings goal, already saved, annual return, years to goal — and returns save each month, existing savings will grow to and still needed. The whole calculation happens in this page as you type: there is no submit button, no request, and nothing stored.
Because it recalculates on every keystroke you can use it as a sensitivity test rather than a one-shot answer. Moving annual return alone from 4 to 5 changes save each month from 662.08 to 640.87 — the worked example below sets that out in full.
A worked example
Worked through with the figures the page already has in it: savings goal of 50,000 and already saved of 5,000, and the rest as shown, giving save each month of 662.08. These numbers come from running the calculator’s own code, not from being typed in here, so they cannot drift away from what you see on screen.
Starting from:
- Savings goal: 50,000
- Already saved: 5,000
- Annual return: 4 %
- Years to goal: 5 years
| Result | Value |
|---|---|
| Save each month | 662.08 |
| Existing savings will grow to | 6,104.98 |
| Still needed | 43,895.02 |
What happens when one input moves
Holding everything else steady and changing Annual return from 4 % to 5 % — one percentage point — moves the answer like this:
| Figure | 4 % | 5 % |
|---|---|---|
| Save each month | 662.08 | 640.87 |
| Existing savings will grow to | 6,104.98 | 6,416.79 |
| Still needed | 43,895.02 | 43,583.21 |
That is usually the number worth arguing over: it is easier to move than the headline amount, and the difference compounds across the whole term.
Savings Goal Calculator — frequently asked questions
What return should I assume for a short goal?
For anything under about three years, use a cash or savings rate rather than a market return. Money you need soon should not be exposed to market falls.
What if the monthly amount is unaffordable?
Extend the timeline, reduce the goal, or increase the starting amount. The calculator updates instantly, so try each.
Does this account for inflation?
No. If the goal is years away, consider raising the target to reflect what it will actually cost then.
Is this calculator free?
Yes, with no account, no limits and no data collection. It runs entirely in your browser.
Should I rely on this for a financial or medical decision?
No. It is a planning estimate built on standard formulas and stated assumptions. For decisions that matter, speak to a qualified professional who can account for your full circumstances.
How accurate is the Savings Goal figure?
The arithmetic is exact. With the defaults on this page — savings goal 50000, already saved 5000, annual return 4 % — it returns save each month of 662.08. What limits accuracy is the assumptions, not the maths: change annual return to 5 % and the same formula gives 640.87. Treat it as a well-founded estimate, not a quotation.
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Nothing is sent anywhere. The figures you type stay in this page and are never transmitted or stored — how that works.
Disclaimer. The formula is exact; the answer is only as good as the figures and assumptions above. Not financial, tax, medical or legal advice. Full disclaimer.