This savings goal calculator helps you plan a target — whether that is an emergency fund, a deposit, or a holiday — by showing how regular contributions add up over time.
Reaching a goal comes down to three things: how much you start with, how much you add each month, and how long you give yourself. Increasing any one of them gets you there sooner. If your savings earn interest, compounding does part of the work for you.
Automate transfers on payday so saving happens before you can spend it, keep goal money in a separate high-interest account, and review the target every few months. Small, consistent contributions beat occasional large ones because they build the habit.
A common rule is to save at least 20% of take-home pay, but the right amount depends on your goal, deadline, and budget.
For short-term goals, a separate high-interest savings account keeps the money safe and accessible. For long-term goals, investing may grow it faster but carries more risk.
Over short periods the effect is small, but over several years interest and compounding can meaningfully shorten the time to reach a goal.
This calculator provides estimates for general information only and is not financial advice. Figures are approximate — confirm exact numbers with your lender or a qualified adviser.