Calculators
Savings Goal Calculator
See how long it takes to reach a savings goal, or how much to set aside each month to hit a target date. Interest is included, with a progress bar and a growth chart.
€1,000.00 of €10,000.00 saved (10%)
How it works
Each month your balance earns a slice of interest and grows by your contribution. The tool steps through month by month until the balance reaches your goal, or solves for the contribution that gets you there by your target date.
Balance next = balance × (1 + rate / 12) + contributionStarting with a lump sum helps, because that money compounds for the whole period. Regular contributions then do the heavy lifting, especially for goals within a few years.
Time to save €10,000
Starting from zero at 2% annual interest, here is how long different monthly amounts take to reach a €10,000 goal.
| Monthly saving | Time to €10,000 |
|---|---|
| €100 | 7 years 9 months |
| €200 | 4 years 1 month |
| €300 | 2 years 9 months |
| €500 | 1 year 8 months |
| €1,000 | 10 months |
Frequently asked questions
How can I reach my goal faster?
Increase your monthly contribution, start with a larger lump sum, or earn a higher interest rate. Of the three, raising the monthly amount usually has the biggest and most reliable effect.
Does interest really matter for short goals?
For goals a year or two away, interest adds only a little, so the monthly amount does most of the work. Over five years or more, compounding starts to make a noticeable difference.
Should I keep an emergency fund separate?
Yes. Most guidance suggests three to six months of expenses in an easy-access account, kept apart from goal savings so you are not forced to raid the goal when something unexpected comes up.
What interest rate should I assume?
Use the rate your savings account or investment actually pays. Easy-access savings are usually low single digits, while longer-term invested money may earn more but carries risk and is not guaranteed.
What is the difference between the two modes?
How long takes your monthly contribution and tells you the time to reach the goal. How much per month takes a target date and tells you the contribution needed to get there in time.