SAVING & INVESTING / FREE CALCULATOR

Savings goal calculator

Find the monthly contribution needed to reach a savings target by your chosen date.

YOUR NUMBERS

Let’s work it out.

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R
R
Equivalent to 2 years. Contributions are monthly, at the end of each month.
%
Nominal annual return compounded monthly; a scenario, not a guarantee.
Leave blank to estimate the first payment one month from today. Monthly dates are estimates, not a lender schedule.

Calculated on your device. Save a copy only when you choose.

A CLEARER PICTURE

Required monthly contribution

R 2 137,64

Month-end contributions · rounded up to the next cent

Savings target
R 60 000,00
Starting balance
R 5 000,00
Total contributions including initial balance
R 56 303,36
Illustrative growth
R 3 696,80
See the full breakdown

Save this scenario, then change your inputs to compare the results.

BEHIND THE NUMBER

Your calculation, unpacked.

Savings target
R 60 000,00
Starting balance
R 5 000,00
Total contributions including initial balance
R 56 303,36
Illustrative growth
R 3 696,80
Projected final balance
R 60 000,16
Saving period
24 months
UNDERSTAND THE TRADE-OFFS

Small changes.
Different possibilities.

Try changing one input at a time. Compare the total cost, as well as the monthly number.

View year-by-year savings projection
Contributions include your starting balance. Negative growth represents a loss.
YearContributionsGrowthBalance
1R 30 651,68R 1 025,70R 31 677,38
2R 56 303,36R 3 696,80R 60 000,16
THE WORKINGS

How this calculation works

We grow your starting balance at a nominal annual rate divided into monthly periods. For monthly rate r and n months, the required end-of-month contribution is max(0, target − initial × (1+r)^n) × r / ((1+r)^n − 1). At zero interest it is the unfunded target divided by n. Contributions round up to the next cent.

A worked example

A R24 000 goal, R12 000 starting balance and 12 months at 0% require R1 000 per month. If R12 000 already covers a R10 000 target, the required contribution is zero.

Assumptions & limitations

  • Contributions are made at month end; the return stays constant.
  • Taxes, fees, withdrawals and product restrictions are excluded; returns are not guaranteed.
  • The suggested contribution is rounded up to avoid a rounding shortfall. A starting balance that grows to the goal can require no further contributions.

Read a little further.