Savings goal calculator: how much to save each month
Saving for an emergency fund, a car, school fees or a trip? Find out exactly how much to put aside each month to reach your goal on time.
Results are estimates to help you plan, not financial advice.
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Questions
How much should I save each month?
A common guide is at least 10% of take-home pay, and 20% if you can. Start with an emergency fund of 3 to 6 months of essential spending.
What is "pay yourself first"?
Move your savings out on payday, before you spend on anything else, so saving happens automatically instead of with whatever is left over.
Where should I keep my savings?
For short-term goals, a savings account you can reach easily is usually best. For long-term goals, ask a licensed adviser about other options.