Put a number and a date on your goal: a trip, a down payment on a home or a fund for school. The calculator tells you how much to save each month or how long it will take.
The preloaded values are an example: replace them with your own figures.
You need to save per month
With these figures, if you save $187,50 every month for 2 years, you would reach your goal of $5.000,00.
Milestones for your goal
Details
| Month | Contributed | Balance | Progress |
|---|---|---|---|
| Month 1 | $687,50 | $687,50 | 14% |
| Month 2 | $875,00 | $875,00 | 18% |
| Month 3 | $1.062,50 | $1.062,50 | 21% |
| Month 4 | $1.250,00 | $1.250,00 | 25% |
| Month 5 | $1.437,50 | $1.437,50 | 29% |
| Month 6 | $1.625,00 | $1.625,00 | 33% |
| Month 7 | $1.812,50 | $1.812,50 | 36% |
| Month 8 | $2.000,00 | $2.000,00 | 40% |
| Month 9 | $2.187,50 | $2.187,50 | 44% |
| Month 10 | $2.375,00 | $2.375,00 | 48% |
| Month 11 | $2.562,50 | $2.562,50 | 51% |
| Month 12 | $2.750,00 | $2.750,00 | 55% |
| Month 13 | $2.937,50 | $2.937,50 | 59% |
| Month 14 | $3.125,00 | $3.125,00 | 63% |
| Month 15 | $3.312,50 | $3.312,50 | 66% |
| Month 16 | $3.500,00 | $3.500,00 | 70% |
| Month 17 | $3.687,50 | $3.687,50 | 74% |
| Month 18 | $3.875,00 | $3.875,00 | 78% |
| Month 19 | $4.062,50 | $4.062,50 | 81% |
| Month 20 | $4.250,00 | $4.250,00 | 85% |
| Month 21 | $4.437,50 | $4.437,50 | 89% |
| Month 22 | $4.625,00 | $4.625,00 | 93% |
| Month 23 | $4.812,50 | $4.812,50 | 96% |
| Month 24 | $5.000,00 | $5.000,00 | 100% |
Results are for reference only and are not actual figures. Values depend on the country, the financial institution, taxes and current laws, and must be validated with an authorized financial institution. Banco.guru is an educational guide to what can be achieved; it does not offer products or personalized financial advice.
Tips for using this result
- Break big goals into milestones: celebrating 25% helps you keep going.
- Automate your contribution on payday: what you don’t see, you don’t spend.
- If the goal is less than 1–2 years away, put liquidity and low risk ahead of returns.
- Can’t afford the required contribution? Adjust the time frame or the goal in the budget simulator.
What is a savings goal calculator for?
Saving “whatever is left over” rarely works. A concrete goal, with an amount and a date, turns a wish into a monthly plan. This tool answers two questions: how much you need to save each month to reach your goal within a time frame, or how long it will take if you already know how much you can set aside.
How is it calculated?
If there is no return, the calculation is simple: (goal − what you already have) ÷ number of months. If your savings earn interest, the calculator uses the future value formula for a series of contributions: the money you already have grows at the monthly rate, and so does each monthly contribution. That gives you a slightly lower contribution, because interest helps.
How to set a good goal
- Specific: “5,000 for a car down payment”, not “save more”.
- Dated: the time frame sets the monthly effort.
- Realistic: the contribution must fit your budget without leaving you without an emergency fund.
- Separate: use a different account or sub-account so it doesn’t mix with day-to-day spending.
Where to keep the money for your goal
It depends on the time frame. For near-term goals the priority is usually that the money is available and low-risk; for long-term goals it may make sense to seek some return, as long as you understand the risks. Banco.guru does not recommend specific products: compare terms, costs and guarantees using official information from each institution and your country’s regulator.
If you don’t like the result
You have three levers: extend the time frame, lower the goal or raise the contribution by cutting expenses. Try combinations in the calculator: seeing the effect in real time helps you find a sustainable plan.
Frequently asked questions
How much should I save each month?
It depends on your income, your expenses and your goals. A common benchmark is to put around 20% of income toward savings and extra debt payments, but what matters is that the contribution is sustainable.
Should I save for a goal before having an emergency fund?
The usual approach is to build a basic emergency fund first, because without it any unexpected expense can force you to use the goal money or take on debt.
What happens if I don’t enter a rate of return?
The calculator assumes the money earns no interest. It is a conservative way to plan.
Can I use the calculator for several goals?
Yes. Calculate each goal separately and add up the monthly contributions to see whether they fit your budget.
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