Savings Calculator
Set a savings goal and see exactly when you'll reach it
// Progress Toward Goal
// Milestones
Year-by-Year Breakdown
| Period | Deposits | Interest | Balance |
|---|---|---|---|
| 🏦 Calculate above to see your savings breakdown | |||
How to Use the Savings Calculator
Enter your savings goal, current balance, monthly deposit amount, and interest rate to see exactly how long it will take to reach your target. Choose a goal type using the tabs — Emergency Fund, House Deposit, Car, or Holiday — to load sensible defaults, or use Custom for any goal.
How Savings Growth Is Calculated
Your savings grow through two sources: your regular deposits and the interest earned on the total balance. Interest compounds at the frequency you choose — monthly compounding is most common for savings accounts.
What Is a Good Savings Rate?
A common guideline is to save at least 20% of your take-home income — the 50/30/20 rule allocates 50% to needs, 30% to wants, and 20% to savings and debt repayment. Even saving 10% consistently over many years builds substantial wealth through compound interest.
Emergency Fund
Most financial advisors recommend building an emergency fund covering 3–6 months of living expenses before investing. This protects you from unexpected costs such as job loss, medical bills, or car repairs without going into debt.
From the Blog
// 3–6 Month Rule
Build an emergency fund covering 3–6 months of expenses before anything else. It's your financial safety net.
// Pay Yourself First
Set up an automatic transfer on payday before you spend. You won't miss what you never see.
// High-Yield Accounts
Online savings accounts and cash ISAs often pay 4–5% — far more than a standard bank account.
// Small Increases
Increasing your monthly deposit by just £50 can shave months off your goal timeline thanks to compound interest.