Savings goal calculator
Know what you’re saving for? Enter the goal, what you’ve already saved and how many months you have, and see what to put aside each month. Add an expected yearly growth rate if you want to include it.
Loading the Savings Goal Calculator…
How it works
- Enter your savings goal and the number of months you have to reach it.
- Optionally add what you’ve already saved and an expected yearly growth rate. Leave growth blank to see the plain division.
- You’ll see the monthly amount, the total you’d contribute and, if you added growth, how much of the goal it covers. Nothing you type is stored or sent.
What your result means
Without growth, the monthly amount is simply the remaining goal divided by the months. With growth, each month’s contribution is assumed to earn the rate you entered, so the monthly amount is lower.
Growth rates are assumptions, not promises: real returns vary and can be negative. Try a few values, including zero, to see how much your plan depends on them.
A goal with a date becomes a monthly habit
A goal like “save for a deposit” is easy to postpone. A monthly amount is something you can set up, check and adjust.
This is a planning calculator, not financial advice or a forecast. If the figure feels out of reach, try a longer timeline or a smaller goal and see what changes.
Frequently asked questions
How is the monthly amount calculated?
With no growth rate it is the goal minus what you’ve saved, divided by the number of months. With a growth rate, the calculator uses the standard future-value formula for regular monthly contributions, with growth compounded monthly.
Should I include growth?
Only if you are comfortable with the assumption. Growth is uncertain, so many people look at the zero-growth figure first and treat growth as a bonus. Try both.
Is anything I enter saved?
No. The calculation runs in your browser and nothing is stored, not even on this device, and nothing is sent to BalanceIt.
Is this financial advice?
No. It is arithmetic on the numbers you provide. It does not know your circumstances, taxes or fees, so treat it as a planning aid.
Try another free tool
Keep the goal where your life is
In BalanceIt a savings goal sits next to your tasks and the other areas of your life, so it doesn’t get lost. You decide what to save; nothing is created for you.