Start freeSavings goal

Savings goal calculator

Tell us how much you want to gather and by when, and we'll tell you how much to put aside each month to get there. Free and no sign-up.

Your goal

Work out your savings goal

Tell us how much you want to gather, how much you already have and in how many months you want to get there. If that money will sit in an interest-bearing account or be invested, add the annual return you expect; if not, leave it at 0.

€
€
months
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A goal without tracking is a wish

You already know how much to put aside each month. The hard part comes after: keeping it up when an odd month arrives. In mPF you store the goal, see how far you've come and how far's left, and the progress updates itself from your transactions.

Start free in the appSee how much you can save each month

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01

A goal with an amount and a date, or it isn't a goal

'Saving for a car' can't be met or missed: it has no shape. 'Gathering €10,000 in 24 months' can, because it translates into a specific amount per month you can compare with your real savings capacity. That comparison is the useful part: if the contribution that comes out here is higher than what you have left each month, the goal isn't impossible, it simply needs more time or a smaller amount.

  • A specific amount and a specific date
  • The monthly contribution is the reality check
  • If it doesn't fit: more time, less money or more income
02

What to do if the monthly amount doesn't fit

You have three levers and it's worth pulling them in this order. The first is the term: stretching from 24 to 36 months cuts the contribution by a third and costs nothing but patience. The second is the amount: many goals have a more modest version that does the same job. The third, the slowest but the one that fixes every future goal, is raising your savings capacity by cutting fixed spending or clearing expensive debt.

  • Stretch the term before abandoning the goal
  • Check whether the target amount is really the one you need
  • Raising your savings capacity improves all your goals at once
03

Interest-bearing account or invested? It depends on the term

If your goal is less than three years away, the money should be in an interest-bearing account or a deposit: the extra return from investing doesn't make up for the risk of the market falling in the very month you need the money. From five years on it does make sense to take on some risk, and that's where the return starts doing part of the work for you. That's why this calculator lets you enter 0: for short terms, it's the right answer.

  • Under 3 years: interest-bearing account or deposit
  • Over 5 years: taking on controlled risk makes sense
  • Never invest money for a goal with a near date
04

Emergency fund first, then the goal

Before saving for a trip, a car or a deposit on a flat, it's worth having a cushion for the unexpected. If you don't have one and a breakdown appears, the goal money is exactly what you'll spend — or worse, you'll reach for the card and pay interest. With the fund covered, every goal you set survives the odd months.

  • A minimum cushion before any goal with a date
  • It stops a surprise wiping out the goal
  • With the fund in place, goals stop derailing

Frequently asked questions

How do I work out how many months to enter?

Start from the date you need the money and count the months left. If the goal has no compulsory date, try it the other way round: look at how much you can comfortably put aside each month and adjust the term until the contribution fits. A generous term you keep beats a tight one you abandon.

What annual return do I enter?

If the money is going to sit in your current account, enter 0. In an interest-bearing account or a deposit, use the rate you're offered today. If you're going to invest it and the term is long, be conservative: it's better to have money spare at the end than to find you're short. And remember that past returns don't guarantee future ones.

Why does the contribution drop so much when I stretch the term?

Because you're spreading the same amount over more months and, on top of that, if there's a return, the interest has more time to do its part. Going from 24 to 36 months cuts the monthly amount by around a third. It's the cheapest lever you have when the goal doesn't fit the budget.

Can I have several goals at once?

Yes, but the sum of all the contributions can't exceed your real savings capacity. With several goals at once it usually works better to rank them by priority and attack one or two hard rather than spread crumbs across five: reaching one goal in full is far more motivating than falling short on all of them.

What if one month I can't contribute what I planned?

It doesn't matter as long as it doesn't become the norm. A lean month is made up by stretching the term a few weeks or contributing a bit more when a good month comes. What sinks goals isn't missing one month, it's not looking at them again afterwards.

Would you rather start gently?

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