A trip, a new laptop, a wedding, an emergency fund: enter how much you need and by when, and see exactly how much to put aside every month, week or day to get there.
Example: a goal of 5,000 in 24 months, with 500 already saved and 4% interest a year.
You need to save about 179 a month (about 41 a week). Around 210 of the goal comes from interest, so you put in less than the 4,500 you are missing.
Most advice says to keep three to six months of essential costs (rent, food, bills, transport) for surprises such as a job loss or a large repair. Start with one month and build from there.
Saving ahead means you do not pay credit card interest later, and you often get a better price by paying cash.
A long goal where interest helps a lot. Keep the money somewhere safe, because you need it on a fixed date.
Look at where your money goes for a month. Small regular costs (coffee, delivery, subscriptions you forgot) often add up to more than you think. Our Monthly Budget Planner shows what is left at the end of the month, and a cashbook like TallyKnot Local helps you track it day by day.
The calculator takes your goal, subtracts what you already have (plus the interest it earns until the target date) and spreads the rest over the months left, with the interest your monthly savings earn included.
Use the yearly rate your savings account pays. If your money is in cash or a current account with no interest, enter 0. Be careful with high numbers: investments can go down as well as up.
Use "What if I save" to enter the amount you can manage. The calculator shows when you would reach your goal at that pace, so you can move the date or lower the goal.
Whatever matches your income. If you are paid weekly, saving the weekly amount on payday feels easier. The total is the same.
For goals in the next few years, a separate savings account works well: it earns some interest, and keeping it apart from your everyday money makes it less tempting to spend.
A calculator gives you one answer. A cashbook shows you the whole picture: write down cash in and cash out, see where the money goes in charts and on a calendar, and share a ledger with your family, team or friends.
This takes a few seconds.
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