Savings Goal Calculator
Find out how much you need to save each month to reach a specific savings goal by a target date.
Required Monthly Contribution
£256.35
Assumptions
- Constant annual return rate
- Contributions are made monthly
How it's calculated
Solves the compound-growth formula for the monthly contribution needed so principal + contributions reach the goal amount by the target date.
Worked example
Starting with £2,000 and wanting £20,000 in 5 years at a 5% return requires a monthly contribution shown live above.
Frequently asked questions
What if I've already saved enough?
If your current savings alone will grow to meet the goal, the calculator shows £0 — no further contributions are needed.