Finance
Compound interest
See how savings and monthly contributions could grow.
Calculators / Finance / Savings goal
Savings goal calculator
Work out the monthly saving needed to hit a target.
On this page
Monthly saving needed625
Remaining to save15,000
Calculator controls
How to calculate
Work out the monthly saving needed to hit a target.
Monthly saving = max(0, target − saved) ÷ months
Worked example
Target amount: 20000; Already saved: 5000; Months to save: 24.
Monthly saving needed: 625 ; Remaining to save: 15,000 .
Assumptions and limits
Assumes no interest or investment growth.
Results are rounded for display; calculations use unrounded values. Read our calculation methodology.
Understanding the result
The monthly amount divides the unfunded portion of your target evenly across the time remaining. It does not assume investment growth.
When this tool is useful
Turn a planned purchase or emergency-fund target into a monthly savings commitment.
Understanding your inputs
| Input | What to enter |
|---|---|
| Target amount | Enter a number of at least 0 and no more than 1000000000000. |
| Already saved | Enter a number of at least 0 and no more than 1000000000000. |
| Months to save | Enter a number of at least 1 and no more than 1200. |
Frequently asked questions
What happens if I already reached the target?
The required monthly saving is zero. The tool does not recommend withdrawing any excess.
Does this include interest?
No. Use the compound-interest calculator to model a growing balance with regular contributions.