Savings Goal Calculator
Find out how much you need to save each month to reach a target amount by a set date, counting interest and what you have already saved.
Your goal
Worked example
These are the calculator's starting values, so the results above match this example until you change an input.
To have R 50 000 in 2 years, with R 5 000 already saved and a 7% yearly return, you need to save R 1 723,10 a month.
Your monthly deposits add up to R 41 354,39, and interest on the growing balance adds R 3 645,61.
How the monthly amount is worked out
The calculator first grows what you have already saved at the rate you enter, then works out the equal monthly deposit that covers the rest of the goal by the deadline, with interest compounding monthly. A higher rate or a longer time means a smaller monthly amount; with a short deadline, interest has little time to help.
Choosing a realistic rate
For a goal one to three years away, use a rate you can get without risk, such as a notice deposit, fixed deposit or money market account. Interest above the annual interest exemption is taxed. For goals five or more years away, an investment such as a unit trust in a tax-free savings account may grow faster, but its value goes up and down, so it suits money you will not need on a fixed date.
Tips for reaching a savings goal
- Set up a debit order for the day after payday, so the saving happens before the spending.
- Keep goal money in a separate account so it is not used by accident.
- Raise the amount when your salary goes up.
- Build an emergency fund first, so an unexpected bill does not wipe out the goal.
The calculation uses standard compound-interest maths with monthly compounding and deposits at the end of each month. Interest rates and returns are assumptions, not guarantees. This page is general educational information, not financial advice.
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Open calculator →Frequently asked questions
How much should I save each month to reach R 100 000?
With nothing saved yet and a 7% return, about R 2 504 a month over 3 years, or about R 1 397 a month over 5 years. Enter your own rate and time to see your figure.
Does the calculator include interest?
Yes, on both what you have already saved and every deposit, compounded monthly.
What if I already have enough saved?
If your current savings will grow to the goal by the deadline on their own, the monthly amount shows R 0.
Where should I keep money for a short-term goal?
Somewhere safe that you can reach in time, such as a notice or fixed deposit that matures before you need the money.
Related guides
Savings goals explained
A savings goal becomes manageable once it has three numbers: how much, by when, and what the money can earn in the meantime.
Read guide →GUIDEEmergency funds explained
An emergency fund is money set aside for the unexpected: a job loss, a car repair, a medical bill.
Read guide →