Savings goal calculator — time or monthly amount
Estimate how many monthly deposits a savings goal needs, or the monthly amount required to reach it within a chosen number of months.
Runs in your browser — your input is not uploaded to ToolsNow.
Sets formatting only.
This assumes the same return and contribution each month. Changes to either will change when you reach your goal.
Tax and fees can reduce growth. Inflation can reduce what the saved amount will buy.
How to use
- Choose time or monthly amount. Select How long will it take? or How much per month?
- Enter the goal and current savings. Use the same currency for all amounts. Enter 0% to compare a scenario with no interest.
- Set the contribution or deadline. Starting from €0, a €10,000 goal with €250 deposited each month takes 40 months at 0%.
Questions
When are interest and deposits applied?
Each month, the tool applies one twelfth of the nominal annual rate to the existing balance, then adds the deposit. With €0 initially, €250 per month and a constant 4% annual rate, the €10,000 goal is first reached in month 38.
How do I work backwards from a deadline?
Choose How much per month? For a €5,000 goal, €2,000 already saved, 12 months and 0% interest, the remaining €3,000 requires €250 per month.
What assumptions affect the timeline?
The rate stays constant, every monthly deposit is made, and there are no withdrawals, fees or taxes. The target is a fixed currency amount, without an inflation adjustment. Variable investment returns will not follow this smooth path.
Published by ToolsNow. How tools and sources are checked · Report a problem