Goal Savings Calculator
Calculate the monthly savings rate to reach your savings goal. With term and interest rate. Free with amortization schedule, interest comparison, examples.
Required savings rate
339,56 €/month
4.074,71 €/year
Total deposits
40.747,08 €
Of which interest
9.252,92 €
Tip: With double the savings rate (679,12 €/month) you reach your goal in just 5 years 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.
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.
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.
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