Savings goal calculator
An amount to reach, what you already have and how much you put aside each month: see how long it takes, and how much you would need each month to get there by a date.
The goal
When you get there
What if you want to get there by a date?
Simplified estimate: equal deposits at the end of each month, a steady return compounded monthly, no tax on the return and no inflation. A savings account or a fund grows differently.
How the calculation works
- With no return, the number of months is the gap between the goal and what you have, divided by the monthly deposit.
- With a return, each month the balance grows by the monthly rate (the annual return divided by twelve) and the deposit is added. This is the future value of an annuity.
- The month you get there is the first one in which the balance passes the goal.
- The return here is before tax. In Italy, gains on a savings account or an investment are taxed at 26% (12.5% on government bonds).
Other tools
For information only. The calculations are simplified estimates and the texts summarise rules that change: they are not tax advice. Always check with your broker, the rules in force or an adviser.
Your goals, with your real money.
In BuddyBudget, what you put aside each month is read from your connected accounts. You create a goal, choose which accounts or investments the money comes from, and see when you get there, whether your savings cover every goal and how far each one moves the year you can stop working. Try the demo