Savings goal calculator
Enter your goal, what you've saved so far, how many months you have and an optional interest rate. The calculator shows how much to put aside each month, fortnight or week. It runs in your browser; nothing you enter is sent anywhere.
Calculate your savings plan
Save each month$208.33
- Each fortnight
- $96.15
- Each week
- $48.08
- You'll put in
- $2,500.00
- Interest earned
- $0.00
An estimate: real accounts may compound differently, and rates change. Nothing you enter is saved or sent.
Track this goal in LouryxHow the calculation works
Without interest, it's simple: subtract what you've saved from your goal and divide by the number of months.
With interest, the calculator assumes interest is added monthly at the yearly rate divided by 12, that your current savings earn interest too, and that you deposit at the end of each month. Real accounts compound differently and rates change, so treat the result as a close estimate, not a promise.
The fortnightly and weekly amounts spread the same yearly total over 26 or 52 payments.
Example
| Time | Interest | Each month | Each week |
|---|---|---|---|
| 12 months | None | $208.33 | $48.08 |
| 18 months | None | $138.89 | $32.05 |
| 12 months | 4% a year | $202.87 | $46.82 |
Picking the goal and the date
- Price the goal. Look up the real cost (the trip, the deposit, the laptop) and write it down, rather than guessing a round number.
- Add a buffer. Prices rise and plans change; 5 to 10% on top saves a last-minute scramble.
- Work back from a real date. A holiday in August or a course that starts in January makes the deadline concrete. For goals without a date, like an emergency fund, choose one anyway; you can move it.
- Check it against your budget. Look at what's left after essentials each month. If the calculator's amount doesn't fit, change the plan now rather than missing it later.
If the monthly amount is more than you can save
- Move the date. Stretching 12 months to 18 cuts the monthly amount by a third.
- Lower the goal or split it. Save for the flights first and the spending money second.
- Find one cost to pause. An unused subscription redirected to savings is often enough to close a small gap.
- Save windfalls. Put part of any refund, gift or bonus straight toward the goal and recalculate.
Whatever you choose, start this month with whatever you can. A smaller amount saved regularly builds the habit, and you can raise it later.
Make the saving automatic
- Pay yourself first. Schedule a transfer for the day after payday, before the money gets spent.
- Separate the money. A separate savings account makes it less tempting to dip in.
- Round up the amount. $210 a month is easier to remember than $208.33, and it builds a small buffer.
- Check in monthly. If you're behind, adjust the date or the amount instead of giving up on the goal.
In Louryx, a savings goal can track the amount, and a habit like “Save $50” can add to it each time you check it off; see goal planning. The money tracker keeps a simple monthly budget.
Questions
How much should I save each month?
Enough to reach your goal by your date without leaving you short for essentials. If the calculator's amount is too high, move the date out rather than skipping saving altogether.
Does the calculator include taxes or fees?
No. It assumes a steady rate with no fees or taxes on interest. Check your account's terms for the details.