Savings Goal Calculator
Instead of calculating what your savings eventually become, this calculator flips the question: how long until you reach a specific goal? Useful for an emergency fund, a down payment, or a big purchase.
Result
43 mo
Time to goal
- Total deposited
- ยฃ9,600.00
- Of which interest
- ยฃ580.66
How this was calculated
- 1Simulate month by month: balance grows with interest and depositssaldo ร (1 + 0.0025) + ยฃ200.00
- 2Stop once the balance reaches your goal
What the variables mean
- doel
- The amount you want to reach
- saldo
- Your savings balance, which grows each month
Worked examples
โฌ 1,000 now, โฌ 200/month, 3% rate, goal โฌ 10,000
โ Goal reached after about 42 months (3 years and 6 months).
Common mistakes
- Ignoring interest and so overestimating how long it will take.
- Entering an unrealistic monthly deposit that doesnโt fit the household budget.
Tips
- Automate the transfer on the day your salary arrives โ that prevents "forgetting" to save.
When to use it
- Working out when you will have a house down payment saved.
- Building an emergency fund of 3 to 6 months of expenses.
Frequently asked questions
What if I increase my monthly deposit?
Enter a higher monthly deposit amount and recalculate; you will immediately see how much faster you reach your goal.
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