Build wealth · UK
Savings Goal Calculator
Work out how much to put aside each month to reach a savings goal by your deadline. Set the target, your starting amount, how long you have and the interest rate.
Shows the gross figure before any tax. Savings rates can change. An estimate to help you plan, not financial advice.
The path to your goal: your starting pot plus £263.95 a month, growing with interest, reaching about £20,000.
How to hit a savings goal
Working backwards from a target makes saving feel concrete. Decide how much you want and when you want it, and the sum that matters is the regular amount to put aside each month. The interest you earn does some of the lifting, so the longer your timeframe, the less you need to find yourself.
If the monthly figure looks steep, stretch the deadline, trim the target, or pay in a lump sum to start. To explore how a set monthly amount grows instead, use the savings calculator.
Common questions
How much do I need to save each month to reach my goal?
It depends on your target, how long you have, what you start with and the interest rate. Enter those above and the calculator works backwards to the monthly amount that gets you there, including the interest earned along the way.
How is the monthly amount worked out?
We take your target, subtract what your starting pot will grow to on its own, then work out the regular monthly contribution whose compounded value covers the rest by your deadline. It is the savings calculator run in reverse.
What if I can't afford the monthly amount?
You have three levers: give yourself more time, lower the target, or start with a bigger lump sum. Nudge any of the inputs above and watch the monthly figure change to find a plan you can actually stick to.
Should I use a savings or an investment return?
For a short goal of a few years, use a cash savings rate, as you do not want to risk the money falling just before you need it. For a goal a decade or more away, some people use a lower, cautious investment return, but remember investments can fall as well as rise.
Does this account for tax on the interest?
No, it shows the gross figure. Most people have a personal savings allowance, and interest inside an ISA is tax-free, so for many savers tax makes little difference. Check your own position if you expect large amounts of interest.
About this calculator
Works out the monthly contribution whose compounded value, on top of your starting pot, reaches your goal by the deadline, using standard compounding arithmetic. It assumes a steady rate and shows gross figures before tax. An estimate to help you plan, not financial advice. Last updated June 2026.