Calculate how much you need to save each month to reach your financial goal. Includes interest, timeframe, and savings projection chart.
A savings goal calculator determines how much you need to set aside each month to reach a target amount by a chosen date. It accounts for any interest earned on your savings, showing a month-by-month projection so you can adjust your contributions or timeline to stay on track.
147,05 €
Monthly Savings Required
60
Monthly Payments
5 years
September 2031
Target Date
8.822,74 €
Total Contributions
1.177,26 €
Interest Earned
10.000,00 €
Projected Total
Last updated:
Savings Goal Calculator
A savings goal is a specific amount of money you want to accumulate by a target date — whether for an emergency fund, a vacation, a car, or a down payment. The calculator uses the standard PMT (Payment) financial formula, taking into account your current savings and the interest rate.
With monthly compounding, the annual rate is divided by 12. Saving €200/month at 4% for 10 years results in about €29,400 in contributions, but the final balance reaches approximately €36,800. Interest adds over €7,400 — without any extra effort.
Interest Rate
The appropriate rate depends on where you store your savings. For short-term goals (up to 2 years), use a conservative 2–3%. For long-term goals (5+ years) with investments, you may use 5–7%.
2025 reference rates: bank savings account 1.5–3.5%, money market fund 3–4%, government bonds 3–5%, index funds 5–8% (historical average, higher risk).
Emergency Fund
Financial advisors recommend building an emergency fund of 3–6 months of expenses before pursuing any other savings goal. It protects you from unexpected costs without having to break long-term savings.
Set the goal to 3× your monthly expenses, the timeframe to 12 months, and see the required monthly contribution. The most effective strategy is a standing order set for the day after payday — "pay yourself first."
Practical Strategies
The 50-30-20 rule
50% for needs, 30% for wants, 20% for savings. If the required contribution exceeds 20%, extend the timeframe or reduce the goal.
Automate
Set a standing order for the day after payday — before you have a chance to spend the money.
Separate accounts per goal
Keep separate accounts for different goals (emergency fund, vacation, car). Easier to track progress.
Increase gradually
Every income rise → increase savings proportionally. Even €20/month more has a large long-term impact.
Reinvest returns
Do not withdraw interest — reinvest it. This is the power of compound interest.
Review every 6 months
Check your goals twice a year. Adjust amounts if your circumstances have changed.
We use the standard Present Value of Annuity (PMT) formula. Your current savings grow at the specified interest rate, and the required monthly contribution makes up the remaining difference to reach your goal by the deadline.
Use the annual interest rate offered by your savings account, money market fund, or investment account. In 2024–2025, European savings accounts offer 2–4% annually. If you invest in index funds, a conservative estimate is 5–7% annually.
Yes. If you set the interest rate to 0%, the calculator simply divides the remaining amount (goal minus current savings) by the number of months. This is useful for short-term savings goals with no interest.
If your current savings, with compound interest, will already exceed your goal before the deadline, the required monthly contribution shows as €0. Your savings will grow to meet the goal on their own.
Compound interest means your interest earns interest. The longer your timeframe and the higher the rate, the more powerful this effect. A €10,000 goal over 5 years at 4% requires about €150/month; the same goal over 10 years only requires about €68/month.