Savings goal calculator
Pick a goal and a date. This shows what to put aside each month and each week, and how much interest helps.
Sinking funds: one goal at a time is too slow
Most people need several pots at once: an emergency fund, car MOT and repairs, birthdays, a holiday, and next Christmas. List each with its target and date, then work out the monthly amount for each one. Add them up, and that total is your monthly "savings bill". Treat it like any other direct debit on payday.
How big should an emergency fund be?
A common rule of thumb is 3 months of essential spending. Start smaller: even £500–£1,000 covers most boiler, car and phone surprises without a credit card.
Not sure what you can afford to save? Start with the 50/30/20 budget calculator.
Interest is worked out monthly at AER ÷ 12 and assumes a steady rate. Cash ISAs let you earn interest tax-free. Outside an ISA, the Personal Savings Allowance (£1,000 basic rate, £500 higher rate) covers most people.
Reset your money in January, with a no-spend streak tracker that adds up what you've saved.
A 31-day no-spend calendar with streaks, a January reset budget, a subscriptions audit, money found and 2027 savings goals, in Google Sheets and Excel.
Get it for £5 →See every bill as one monthly number, and stop direct-debit surprises.
A Google Sheets and Excel planner that turns every bill into a monthly cost, and covers council tax, energy readings, a monthly budget and a savings goal.
Get it for £7 →FAQs
How much should I save each month?
A common guide is 20% of take-home pay (the '20' in 50/30/20). But any regular amount, set up automatically on payday, beats an ambitious target you can't keep.
Where should I keep a savings goal?
Short-term goals (under 5 years) are usually best in an easy-access savings account or cash ISA, so the money is there when you need it.
Related calculators & guides
ISA deadline 5 April · ISA allowance tracker · Tax year-end checklist · Mother's Day budget · Valentine's budget · Free February planner (PDF) · Blue Monday budget · Free sinking funds tracker (PDF)
- Undated monthly budget planner book (Amazon)
- Cash-stuffing budget envelope wallet (Amazon)
- The Psychology of Money: Morgan Housel (Amazon)