Savings Goal Calculator
Work out the monthly contribution a savings goal needs, or flip it around and project how a starting balance plus monthly contributions grows over time with interest.
Last updated
| Year | Contributed | Interest earned | Balance |
|---|
How to plan a savings goal
- Enter your starting balance and the interest rate.
- To find how much to save, enter your goal and time frame, then click Solve for monthly contribution.
- To see where you’ll end up, enter a monthly amount and click Project balance growth.
How it's calculated
Interest compounds monthly on the running balance, with your contribution added at the end of each month. In "solve for contribution" mode, the tool searches for the monthly amount that lands the balance on your goal by the target date; in "project" mode, it runs the same month-by-month simulation forward from a fixed contribution to show where you'll actually end up. Nothing entered here is sent to a server, and this is for estimation only — real returns vary and aren't guaranteed.
Questions about saving
How much do I need to save each month?
Enter your goal and how many years you have; the calculator works out the monthly amount, including the interest you’ll earn along the way.
How much will I have if I save £200 a month?
Use Project balance growth: over 10 years at 4%, £200 a month grows to about £29,500, of which £24,000 is your own money.
How is interest added?
Monthly, on the running balance, with each month’s contribution added at the end of the month.
Are the results guaranteed?
No. Rates change and investments go up and down, so treat the figures as a guide.