Savings Goal Calculator
Target, deposit, rate — the months and the date you get there.
How this is calculated
Solve for n: target = start×(1+r)ⁿ + deposit×((1+r)ⁿ − 1)⁄r r = rate ÷ 12
Worked example: R100,000 target at R2,000/month and 8% from zero takes 44 months — 3 years 8 months — with R88,000 deposited and the rest earned. At 0% the same goal takes 50 months; the interest quietly removes half a year of saving.
Frequently asked questions
How does the savings goal calculator work?
It solves the future-value equation for time: given your target, monthly deposit, any starting balance, and an annual rate compounded monthly, it finds how many months until the balance crosses the target — then shows the date that lands on.
What interest rate should I enter?
The rate your money will actually earn: a savings-account or money-market rate (currently mid-single digits in most countries, higher in South Africa) for cash goals, or a conservative long-run estimate if the goal is invested. When unsure, use a lower rate — arriving early beats planning on returns that never came.
Why does starting earlier matter more than saving more?
Because the earliest deposits compound the longest. In the worked example below, doubling the deposit reaches the goal in roughly half the time — but starting a year earlier with the same deposit also removes months, for free. The calculator makes both effects visible instantly.
What if the goal shows as unreachable?
With no deposits and no interest, no future month ever crosses the target, so the calculator says so honestly instead of inventing a number. Add a monthly amount — even a small one moves the date from "never" to "counted".