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Savings Goal Calculator

Estimate how long it could take to reach a savings target, or work backwards from a target date to estimate the monthly contribution required.

Amount remaining now

£15,000.00

Goal minus the amount already saved.

Estimated time to goal

2y 5m

Assuming monthly compounding and contributions at the end of each month.

Estimated interest

£894.58

Estimated growth earned by the month the goal is reached.

Balance at goal

£20,394.58

May be slightly above the goal because the final full monthly contribution is included.

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How to use Savings Goal Calculator

  1. 1Choose whether you want to estimate the time to your goal or the monthly amount needed by a target date.
  2. 2Enter your goal, current savings and an optional estimated annual interest rate.
  3. 3Enter either your monthly contribution or your target time, then review, copy or share the estimate.

Useful tips

  • •Use 0% interest for a conservative contribution-only estimate if you do not want to assume future returns.
  • •Small changes to the assumed rate can make a large difference over long periods, so test more than one realistic scenario.
  • •Remember that real accounts can have changing rates, taxes, fees, withdrawal rules or contribution limits that this simple projection does not model.

Frequently asked questions

When are monthly contributions assumed to be made?

The calculator applies the monthly share of the entered annual interest rate first, then adds the contribution at the end of each month.

Why can the projected balance be slightly above my goal?

Time-to-goal mode includes the full final monthly contribution, so the balance in the month the goal is reached can be a little higher than the exact target.

Are my savings figures uploaded?

No. The projection is calculated locally in your browser and Wid9et does not upload or store the figures entered into this calculator.