Savings Goal Calculator
Calculate how much you need to save regularly to reach your financial goals. Set targets, track progress, and optimize your savings strategy.
Step 1: Goal Details
Setting Realistic Goals
Your savings goal should be specific, measurable, achievable, relevant, and time-bound (SMART). Consider your income, expenses, and financial priorities when setting targets.
Step 2: Savings Plan
About Compound Interest
Compound interest allows your savings to grow exponentially over time as you earn interest on both your principal and accumulated interest. Starting early maximizes this effect.
Savings Goal Results
Monthly Savings Needed to Reach Goal
Savings Strategy Comparison
| Strategy | Monthly Savings | Time to Goal | Interest Earned | Total Saved |
|---|
Savings Progress Over Time
Savings Calculation Formula
Monthly Payment = (Goal – Current) × [r / ((1 + r)^n – 1)]
Where r is monthly interest rate and n is number of months. This formula calculates the regular savings needed to reach a financial goal with compound interest.
Need Professional Financial Planning Advice?
Connect with our financial experts for personalized savings strategies, investment recommendations, and comprehensive financial planning tailored to your goals.
Get Financial Advice