Calculate how much you need to save each month to reach your financial goal by your target date.
Updated October 2026Built and checked by MaverickHow it's calculatedReport an error
Monthly required
$1,770
Total you'll put in
$42,484
over 24 months
Interest earned
$2,516
At your rate
Goal progress
100%
of goal at end
Reaches $50,000 target by month 24.
Three buckets stack up to reach the target.
More time means a much smaller monthly amount.
Pick a goal, a date and what you've already saved, and this works out what to put aside each month, counting the interest your savings earn along the way. A home deposit, a holiday and a rainy-day fund all work the same way: once there's a number and a deadline, the monthly amount is easy to see.
Prices rose 4.0% in the year to August 2026, going by the ABS's monthly measure. The trimmed mean, which leaves out the biggest price swings, was 3.6%.
As of 28 October 2026, the highest savings rate is 5.75%, from Defence Bank Limited's iSaver, while the typical best across 73 institutions is 4.60%. The highest 12-month term deposit rate is 5.60%, from Bank Australia's Term Deposit 12 months, while the typical best across 65 institutions is 5.30%.
Ava wants to save $80,000 for a home deposit in 3 years. She has $15,000 saved and earns 4.5% in a savings account.
Ava needs to save approximately $1,634/month. With about $6,190 of interest over 3 years (before tax), the total effort is less than it seems. She could also explore the First Home Super Saver Scheme for tax advantages.
Raj earns $75,000/year and wants a 3-month emergency fund ($15,000) in 12 months. He has $2,000 saved.
Raj needs to save $1,050/month. At 5% interest, he'll earn about $400 along the way and land right on his goal. That's about $240/week: achievable by reviewing subscriptions and dining out habits.