Savings Goal Calculator
How the calculation works
The calculator subtracts what you have already saved from your goal, then divides the remainder by your monthly contribution and rounds up:
Months = (target − already saved) ÷ monthly contribution, rounded up to the next whole month.
Worked examples
- Goal €10,000, already saved €1,000, saving €300 a month: 9,000 ÷ 300 = 30 months (2 years and 6 months).
- Goal €6,000 from zero at €250 a month: 24 months.
The calculation does not include interest, so it is slightly conservative. On a savings account paying 2–3%, interest would shorten a two-year plan by at most a month; over longer horizons, use the compound interest calculator to include returns.
How much should you save?
- Emergency fund: a common recommendation is to keep three to six months of essential expenses in an instantly accessible account before investing elsewhere.
- The 50/30/20 guideline: about 50% of net income for needs, 30% for wants and 20% for savings and debt repayment. It is a starting point, not a rule.
- Pay yourself first: setting up an automatic transfer on payday makes saving a habit rather than a decision.
Reaching the goal faster
| Monthly saving | Months to save €9,000 |
|---|---|
| €200 | 45 months |
| €300 | 30 months |
| €450 | 20 months |
| €600 | 15 months |
Increasing the monthly amount has more effect than anything else. One-off windfalls — tax refunds, bonuses, gifts — can also be added to "already saved" to see how much they shorten the timeline.
Where to keep the money depends on the timeline: for goals under two or three years, capital-guaranteed savings accounts are usually more suitable than investments that can fall in value.
Frequently Asked Questions
Does the calculator include interest?
No. It assumes your savings don't earn interest, so the result is slightly conservative. For long-term goals, use the compound interest calculator.
How do I calculate how much to save each month for a deadline?
Divide the remaining amount by the number of months. To save €9,000 in 18 months you need 9,000 ÷ 18 = €500 a month.
How big should an emergency fund be?
Three to six months of essential expenses is a widely used guideline; more if your income is irregular.