Savings Goal Calculator (UK)
A house deposit, a holiday, an emergency fund — this calculator works backward: given your target, timeline and expected return, it tells you exactly how much to save each month.
How to use this calculator
- Enter target amount.
- Enter starting balance.
- Enter years to reach the goal.
- Enter annual return rate.
- Your results appear instantly below and update as you change the numbers.
How this calculator works
The calculator grows your starting balance to the target date first, then solves for the monthly contribution that covers the remaining gap, assuming returns compound monthly. Starting earlier shrinks the monthly amount dramatically because growth — not your deposits — funds a large share of the goal. Worked example: a £30,000 house deposit in 5 years at 4% needs about £452 a month: £27,150 of your own contributions plus £2,850 of interest. At a 0% return the same goal needs exactly £500 a month.
Frequently asked questions
Why does starting early cut my monthly saving so much?
Every month of compounding earns interest on previous interest. Start five years earlier at the same goal and your required monthly contribution can drop by 20–30% — the market does the heavy lifting instead of your salary.
What return should I assume for a UK savings goal?
Be conservative for essential short-term goals: 3–4% in cash ISAs and fixed-rate bonds suits a 1–3 year deposit. For a 5+ year goal, a stocks & shares ISA with a 5–7% assumption is reasonable. An over-optimistic rate means the plan falls short when it matters.
Should I adjust for inflation?
If your target is priced in today's pounds — like a deposit on today's house prices — inflate the target or use an inflation-adjusted (real) return. For example a £30,000 goal in today's money needs about £33,300 in 5 years at 2.1% annual inflation.
Disclaimer: Results are estimates for general information only and do not constitute financial, tax, or legal advice. Figures reflect the current tax year and may change. Always confirm current limits and consult a qualified professional before making decisions. Official figures: GOV.UK income tax rates · National Insurance · Stamp Duty Land Tax.