How much should I save each month in general?

The best-known starting point is 20% of your take-home pay, the savings part of the 50/30/20 rule. But the right amount for you depends on your goals, what you already have and what is really left at the end of the month.

Does the calculator include interest?

No. It only counts the money you put aside yourself, with no assumed return, so the result doesn't depend on a forecast.

What if I can't reach the amount it shows?

Extend the deadline, lower the goal or free up money elsewhere. Saving 5% every month is worth more than a 20% plan you drop in March.

Monthly savings calculator: how much to save each month

How much to set aside each month to reach your goal on time.

The calculator needs JavaScript, which is turned off in your browser. The explanation below shows how to work it out by hand.

How it works

For a goal with a date, the sum is simple: divide what you still need by the months you have left. If you want 9,000 in 24 months and have nothing saved, you need to set aside 375 a month. The calculator assumes no interest or return: it is the money you would put away yourself.

How to work it out by hand:

Subtract what you have already saved from the goal.
Count the months from this one to the month of the goal.
Divide the first by the second.

If the numbers don't work, there are only three levers: extend the deadline, lower the goal or free up money elsewhere. Moving that 9,000 goal from 24 to 36 months brings the monthly amount down from 375 to 250. If you have several goals, add them up and compare the total with your income: that comparison is the useful part.

Read the full guide: How much should I save each month? Work out your own number

Frequently asked questions

How much should I save each month in general?: The best-known starting point is 20% of your take-home pay, the savings part of the 50/30/20 rule. But the right amount for you depends on your goals, what you already have and what is really left at the end of the month.
Does the calculator include interest?: No. It only counts the money you put aside yourself, with no assumed return, so the result doesn't depend on a forecast.
What if I can't reach the amount it shows?: Extend the deadline, lower the goal or free up money elsewhere. Saving 5% every month is worth more than a 20% plan you drop in March.