How much should you save each month for a fixed target?
Start by dividing the funding gap at zero interest, then add a supportable growth assumption. An optimistic return should not disguise a monthly saving amount that the budget cannot sustain.
Savings goal calculator →Subtract savings actually available for this goal
The gap is the target less the current balance allocated to it. Do not assign the same emergency reserve to several goals or count an uncertain bonus as money already received. Define the target currency and the month when the money is needed so that the starting balance and contribution period refer to the same plan.
Calculate a transparent baseline
For a target of 12,000, existing savings of 3,000 and eighteen months available, zero-interest monthly saving is (12,000 − 3,000)/18 = 500. If existing savings already cover the target, the tool returns zero required additional contributions rather than recommending negative deposits. This baseline isolates the amount you must contribute without depending on an uncertain interest outcome.
Check whether the contribution is workable
Compare 500 with cash remaining after regular commitments. If the amount is not sustainable, consider the target, deadline or budget rather than merely increasing the assumed rate. The savings-goal model assumes end-of-month deposits and a constant rate. Taxes, fees, inflation, product eligibility and account contribution limits are not automatically included. Revisit the calculation when actual deposits differ from the plan instead of assuming the original target date remains unchanged.
Try the calculators
- Savings goal calculator
Find the monthly deposit needed to reach a savings target.
- Compound interest
See how your savings can grow over time.
- Retirement savings
Estimate the savings you could build for retirement.