Savings Goal Calculator
Find out how much to set aside each month to reach a target amount by your deadline, allowing for interest earned along the way.
Your goal
How this savings goal calculator works
The tool grows your current savings and each monthly deposit at the expected return, then solves for the fixed monthly amount needed so the balance equals your target at the deadline. A higher return or longer timeframe lowers the monthly amount required.
FAQ
How much should I save each month?
Enter your target, starting savings, timeframe and expected rate — the tool solves for the monthly deposit.
Does interest help?
Yes — higher expected returns mean a lower required monthly deposit.
Estimate only; returns are not guaranteed.
Turn a target into a monthly amount
Enter the target balance, current savings, number of years and assumed annual return. The model assumes regular month-end deposits and a constant monthly rate equal to annual rate / 12. The displayed monthly amount is rounded to whole ringgit; rounding upward can help avoid a small shortfall caused by display rounding.
A zero-return goal example
To reach RM50,000 from RM10,000 over five years with a 0% return, the remaining RM40,000 is spread across 60 months: RM666.67 per month, displayed as RM667. Existing savings plus new deposits fund the entire goal; no investment growth is assumed.
Formula and interpreting a zero result
For target T, current savings C, monthly rate i and N months, the required deposit is max(0, (T − C(1+i)^N) × i / ((1+i)^N − 1)); at zero interest it is max(0, (T−C)/N). A zero monthly result means the current balance is sufficient under the assumed growth, not that the future target is guaranteed. The target is nominal money, without inflation adjustment or product fees.
Calculation methods and limitationsExample calculations checked against this page’s code on 7 October 2026.
Questions worth working through
Use the result with confidence
Separate existing savings from future deposits
The target is the future amount you want to reach. Current savings are invested at the beginning; the required monthly deposits are added at each month’s end. The annual input is divided by 12 for monthly compounding, and the displayed deposit is rounded to whole ringgit.
Start with a zero-return check
To reach 10,000 in one year from 4,000, with a 0% return, the remaining 6,000 divided by 12 months requires 500 per month. A positive assumed return reduces the modelled deposit, but does not guarantee that smaller deposit will be enough in real life.
A future target can buy less
The tool does not raise your target for inflation or deduct product fees and tax. If “10,000” means today’s purchasing power, first estimate the future cost or use Financial Planning’s inflation setting. Compare the required monthly deposit with your cashflow surplus before treating it as a workable plan.
The example changes this calculator’s fields. It does not save or replace a journal or backup.