Financial Goals
Savings Goal Calculator
Find out exactly how much to save each month, fortnight, or week to reach your financial goal — whether it's a house deposit, holiday, or emergency fund.
Your Goal
High-yield savings accounts currently offer 4–5.5% p.a.
Results assume constant interest compounded monthly. Actual savings account rates vary.
Monthly Savings Required
$651
Target Amount
$50,000
Total You’ll Save
$44,086
Interest Earned
$5,914
Savings Composition
Yearly Progress to Goal
| Year | Balance | % of Goal |
|---|---|---|
| Year 1 | $13,210 | 26% |
| Year 2 | $21,798 | 44% |
| Year 3 | $30,779 | 62% |
| Year 4 | $40,174 | 80% |
| Year 5 | $50,000 | 100% |
How to Use a Savings Goal Calculator
Setting a specific savings goal makes it much easier to stay on track. Whether you're saving for a house deposit, car, holiday, emergency fund, or investment opportunity, knowing your required weekly savings amount turns an abstract goal into a concrete action.
Choosing the Right Account
Australian high-interest savings accounts currently offer 4–5.5% p.a. with bonus rate conditions. Term deposits offer locked-in rates typically between 4.5–5.2% for 12-month terms. Always compare products at RateCity or Canstar.
The PMT Formula
Where FV = future value, r = monthly rate, n = months