Savings Goal Calculator
Guide: Savings Goals and Inflation: Planning Money That Keeps Its Value
Use 0 for no interest
- Time to reach your goal
- 3 years and 6 months
- Total you pay in
- $18,800.00
- Interest earned
- $1,500.74
| Year | Paid in | Interest | Balance |
|---|---|---|---|
| 1 | $6,800.00 | $170.47 | $6,970.47 |
| 2 | $11,600.00 | $543.44 | $12,143.44 |
| 3 | $16,400.00 | $1,127.17 | $17,527.17 |
| 4 | $18,800.00 | $1,500.74 | $20,300.74 |
Interest is added every month and deposits are made at the end of each month. Real accounts, taxes and fees differ, so treat this as an estimate.
Nothing you enter or choose here leaves your device. This tool runs in your browser.
How to use
- 1Choose whether to find the time or the monthly amount.
- 2Enter your goal, what you have saved and the interest rate.
- 3Read the result and the year-by-year table.
Frequently asked questions
How do I work out how long it will take?
Enter your goal, what you have already, what you save each month and the yearly interest. The tool counts the months until the balance reaches the goal.
How do I find how much to save each month?
Switch to How much a month do I need, then enter how many years you have. The tool works out the monthly deposit.
How is interest handled?
Interest is added every month at one twelfth of the yearly rate, and deposits are made at the end of each month.
What interest rate should I use?
Use the rate your account pays. Enter 0 to see the plain saving without interest.
Is my data sent anywhere?
No. Everything is worked out in your browser and nothing is sent to us.
Read the guide
Learn how this works and how to get the most from it.
Money, health & time
Savings Goals and Inflation: Planning Money That Keeps Its Value
How to work out how long a savings goal takes, how much to save each month, and how inflation quietly shrinks what your money can buy.
1 min read
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