Goal Savings Calculator
How much should you save each month? Enter target amount, term, interest rate and existing capital to get the required rate, interest share and yearly progress.
Assumption: contribution at the end of each month, monthly compounding at the rate ÷ 12, before tax.
Required monthly contribution
€339.56/month
€4,074.71/year
Total deposits
€40,747.08
Of which interest
€9,252.92
Tip: With double the contribution (€679.12/month) the saving period shrinks to 5 years and 6 months (instead of 10 years).
| Year | Deposits | Interest | Total | Progress |
|---|---|---|---|---|
| 1 | €4,074.71 | €75.54 | €4,150.25 | 8% |
| 2 | €8,149.42 | €320.17 | €8,469.58 | 17% |
| 3 | €12,224.12 | €740.77 | €12,964.89 | 26% |
| 4 | €16,298.83 | €1,344.52 | €17,643.35 | 35% |
| 5 | €20,373.54 | €2,138.87 | €22,512.42 | 45% |
| 6 | €24,448.25 | €3,131.60 | €27,579.85 | 55% |
| 7 | €28,522.96 | €4,330.79 | €32,853.75 | 66% |
| 8 | €32,597.67 | €5,744.84 | €38,342.51 | 77% |
| 9 | €36,672.37 | €7,382.51 | €44,054.89 | 88% |
| 10 | €40,747.08 | €9,252.92 | €50,000.00 | 100% |
Note: These calculations are for informational purposes only and do not replace professional tax or financial advice. All information without guarantee.
FAQ
Frequently Asked Questions
How do I calculate the monthly savings needed for a goal?
Divide the target amount by the number of months, adjusting for expected returns. For longer time horizons, compound interest significantly reduces the required monthly contribution.
What is the best way to save for a specific goal?
Short-term goals (under 3 years) suit fixed-term deposits. Medium-term (3-7 years) benefit from a mix of bonds and equities. Long-term goals (7+ years) can use higher equity allocations.
Are my entered amounts stored anywhere?
No. All calculations happen exclusively in your browser. Your inputs are never sent to our server or stored. You can safely enter sensitive financial data.
Guide
What is the Goal Savings Calculator?
The target savings calculator computes the monthly contribution needed to reach a specific savings goal within a given time frame.
How does the Goal Savings Calculator work?
Enter your savings goal, investment period and expected interest rate. The calculator determines the required monthly contribution. Alternatively it shows how long you need to save at a given rate to reach the goal.
Key Data and Facts
Uses the savings plan formula with compound interest. A higher return means a lower required contribution. Starting early pays off disproportionately thanks to compound interest.
Sources
Official sources
Calculations are based on applicable German laws and official data:
- Deutsche Bundesbank
- Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)
- Statistisches Bundesamt (Destatis)
Full methodology at Methodology.
Reviewed by Konstantin Iakovlev · Last updated:
Finance
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