Savings Goal Calculator
What to put aside each month, and how much interest carries.
Work out Savings Goal. What to put aside each month, and how much interest carries. Compounding frequency is an input, not an assumption.
Required each period
$147.05
60 contributions · $166.67 without interest
Interest is carrying $1,177.26 of the $10,000.00 target, which is why the required payment of $147.05 is below the $166.67 you would need with no return at all. The longer the horizon, the more of the work the return does — and the more sensitive the answer becomes to whether that return actually materialises.
How the Savings Goal Calculator works
The contribution needed to reach a target, given what you already have and what you expect to earn. The row worth reading is how much of the target interest is carrying — the longer the horizon, the more the answer depends on a return that may not materialise.
Also known as: how much to save per month · savings target calculator · monthly savings calculator · reach a savings goal
Frequently asked questions
How much do I need to save each month?
It depends on the target, the horizon and the return. £10,000 in five years at 5% needs £147.05 a month, against £166.67 with no return at all.
How much difference does the return make?
More the longer you save. Over five years it covers about 12% of the target; over twenty-five years, at the same rate, it covers most of it.
What return should I assume?
Conservatively. A shortfall from an optimistic assumption compounds too, and the arithmetic gives no warning — it simply produces a payment that turns out to have been too small.
What if I already have enough?
The page says so. If your existing balance compounds past the target on its own, no further contributions are needed.
Put this calculator on your own site
Free to use, on any site, commercial or not. Paste this where you want it to appear. It is a plain iframe, so it works in WordPress, Squarespace, Wix, Webflow, Ghost and anything else that accepts HTML.
<iframe src="https://www.thecalclibrary.com/embed/savings-goal-calculator" width="100%" height="640" style="border:1px solid #e2e8f0;border-radius:12px" loading="lazy" title="Savings Goal Calculator"></iframe>The only condition is that the credit line stays visible. It sits inside the frame, so you do not have to do anything to keep it.