Savings goal calculator
Enter a goal and a deadline; see what to save each month and which kind of account or fund fits the timeline.
Savings goal calculator
Advanced options
Leave at 0 for plain savings; any rate above 0 is illustrative only.
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This growth rate is an illustration you chose, not a forecast or a promise of any return.
Investment values can fall as well as rise, and you could get back less than you put in.
Any actual return depends on the product you choose and any charges you pay.
This calculator gives educational guidance, not financial advice. It does plain cash arithmetic by default and names no product, account, fund or provider. Amounts shown are illustrative; for decisions about your own money, talk to a regulated adviser in your market.
What this calculator does
It answers the question every dated goal eventually forces: how much do I need to put away each month to reach this amount by that deadline? Give it the goal, the months, and anything you have already saved, and it returns the level monthly amount, plus a plain pointer on where money for that time horizon tends to live (instant access for soon; sturdier homes for later).
How this calculator works
Enter your goal, your deadline in months, and anything you have already saved; the tool works out the level monthly contribution that gets you there. The maths assumes level monthly contributions, monthly compounding, and end-of-month timing. The growth rate is optional and defaults to 0%, so by default this is plain cash arithmetic; any rate you set above zero is an illustration you chose, not a forecast. The timeline suggestions (under 2 years, 2 to under 10 years, 10 years and over) are derived from our guide's guidance, with the middle band covering everything between the short and long anchors; they are Money Owl editorial guidance, not regulatory thresholds, and they point to product categories only, never to a product or provider. Your emergency fund is not a timed goal and sits beneath this ladder; use the emergency fund calculator for that. No figure in this tool is sourced from any authority, because the tool holds none; the currency shown comes from your market.
When to use it (and when not)
Use it for goals with a date on them: the wedding, the car, the deposit, next summer. It is the investment calculator run backwards; instead of asking what your money will grow into, it asks what gets you there in time. Do not point it at your emergency fund, which is not a timed goal (the emergency fund calculator handles that one), and do not flatter the monthly figure by typing in a heroic growth rate. The rate field defaults to zero for a reason.
This calculator gives educational guidance, not financial advice. It does plain cash arithmetic by default and names no product, account, fund or provider. Amounts shown are illustrative; for decisions about your own money, talk to a regulated adviser in your market.