Saving & investing

Savings Goal Calculator

Give a savings goal a date and a monthly number. This tool shows both sides of the problem: what your current plan may grow to and what contribution could be required to reach the target on time.

Free calculatorInputs saved only in this browser

Your goal

Define what you are saving for and when you need the money.

£
£
years
months

Your current plan

Enter the contribution and rate you expect to maintain.

£
% AER

Your estimate

Use the result as a planning guide and change inputs to test the assumptions that matter most.

How this calculator works

The calculator compounds your current balance and monthly contributions using the annual savings rate entered. It separately solves for the monthly contribution required to reach the target by the chosen deadline.

How to use it

  1. Enter the target amount and money already saved.
  2. Add your current monthly contribution.
  3. Enter the savings interest rate you expect to earn.
  4. Choose the number of years and months until the deadline.
  5. Compare your projected balance with the monthly contribution required for the goal.

Assumptions and limitations

Interest rates can change and savings products can have limits, tax treatment or withdrawal conditions. The calculation assumes a constant rate and regular end-of-month contributions.

Understand the decision

Helpful guides for this calculator

Use the calculator for the numbers, then use these guides for the practical choices, trade-offs and next steps behind the result.

All articles
Next step

How To Build a No-Waste Monthly Budget

Read this guide for ways to create room in your budget for a savings goal.

7 min read · Read guide →