Savings Goal Planner

Calculate what to set aside each month to reach a goal by a chosen date.

This tool works directly in your browser. Your entries stay on your device.

What it does

“Save more” is not a plan. A target and a deadline are. Give the planner what you are saving for, how much it costs, what you have already put aside and the date you want it by, and it works out the third number: exactly how much you need to set aside each month. You can also add an interest rate if the money sits in a savings account.

How to use it

1. Name the goal — an emergency fund, a trip, a laptop, a deposit.
2. Enter the target amount and anything you have already saved towards it.
3. Pick the date you want it by.
4. Read the monthly figure. If that number isn’t realistic, use the second box: enter what you can manage each month, and the planner tells you the date you will actually reach the goal.

If the monthly number is too big

This happens to almost everyone on at least one goal. There are only a few honest ways out: move the date, lower the target, find the money from somewhere specific (a subscription you cancel, a raise, a side income), or park the goal for now. Admitting this year has two priorities rather than five isn’t giving up. What doesn’t work is leaving an impossible number on the screen and feeling bad about it every month.

Tips

• Set up an automatic transfer on payday for the monthly figure, so saving happens before spending.
• Keep each goal’s money in a separate savings pot if your bank allows it, so you can see progress.
• Saving for Christmas? Our sinking fund guide shows the method with real numbers.