Monthly Savings Calculator
Calculate how much you need to save each month to reach your financial goals. Determine monthly savings targets based on income, expenses, timeline, and interest rates.
Step 1: Income & Expenses
Understanding Your Finances
Your monthly savings capacity is determined by your income minus expenses. Aim to save at least 20% of your monthly income for long-term financial security.
Step 2: Timeline & Interest
About Compound Interest
Interest earned on your savings can significantly accelerate your progress. Even a small interest rate can make a big difference over time due to compound growth.
Savings Plan Results
Required Monthly Savings
Savings Strategy Comparison
| Strategy | Monthly Savings | Time to Goal | Interest Earned |
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Monthly Budget Breakdown
Savings Calculation Formula
Monthly Savings = (Goal Amount × Interest Factor) ÷ Number of Months
The interest factor accounts for compound interest over your savings timeline. More frequent contributions can reduce the required monthly amount.
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