New Zealand·Calculators·Savings goal

Savings goal calculator

Work backwards from the number you need to the amount you have to put away each month.

Your numbers

Goal

$NZD

Already saved

$NZD

Annual return

% p.a.

Years to get there

years

Put away each month:

$360.42

For 5 years

Goal$30,000

You contribute$26,625

Growth covers$3,375

Projected total$30,000

User-supplied annual nominal return compounded monthly. Required contribution is rounded up to the next cent and added at each month end. No tax, fees, inflation, withdrawals or variation in return. Scenario only: the supplied return is not a forecast or guaranteed rate.

Source: your own figures · no market rate assumedThe arithmetic is the same in every country

Open the budget planner

How it works

The calculator solves for the monthly amount that gets you from what you have now to what you need, given the return you enter. Growth does part of the work, which is why the contribution is lower than the gap divided by the months.

Common questions

What return should I enter?

For a goal under three years, use a savings or term deposit rate. Over longer periods people often use a fund's long-run average, but that average is not a promise about your particular years.

Related calculators

Saving

Compound interest

What regular saving becomes.

Saving

Term deposit

Interest on a lump sum for a fixed term.

Free tool

Weekly budget planner

Takes the number above into a weekly budget, and keeps what you enter so the week after is already started.

Open the budget planner

Free tool · no account, no email