Big savings goals — a house deposit, a wedding, an emergency fund — feel less daunting when you know the monthly number. This calculator works backwards from your target to tell you exactly how much to set aside.
Working backwards from the goal
Rather than guessing, we start with where you want to end up. Your existing savings grow at the expected rate, and the calculator solves for the fixed monthly contribution that closes the remaining gap by your deadline.
Let interest help
The interest your savings earn reduces how much you personally need to contribute. Over longer horizons this effect is significant, which is another reason to start early and to keep your money somewhere that actually pays a competitive rate.
If the number feels too big
You have three levers: the goal amount, the timeframe and the monthly contribution. Stretching the timeline or trimming the target both lower the monthly figure — a realistic plan you stick to beats an ambitious one you abandon.
Frequently asked questions
Enough that your contributions plus expected interest reach your goal by your deadline. This calculator computes that exact figure from your target, current savings, timeframe and rate.
For goals within a few years, prioritise safety and liquidity: high-yield savings accounts, money-market funds or short-term CDs, rather than volatile investments.
Extend the timeline, lower the goal, or increase your income/cut expenses to free up cash. A longer horizon lets interest do more of the work.