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Savings Goal Calculator

Enter your goal, what you have saved already and how many months you have to see how much to save each month.

RM

The amount you want to have at the end.

RM

What you have saved toward this goal already.

How many months you have. For 5 years, enter 60.

Advanced
%

Optional. 0 means plain saving with no growth. Enter a rate only if your savings really earn one, and remember returns can be lower.

This result is an estimate only. Check with your bank or the relevant authority before making decisions.

How it is calculated

  • With no return: monthly saving = (goal − already saved) ÷ months
  • With a yearly return r, monthly rate i = r ÷ 12: monthly saving = (goal − saved × (1 + i) ^ months) × i ÷ ((1 + i) ^ months − 1)
  • The monthly saving is never below 0

To see the growth of one amount, use the compound interest calculator. For a safety net first, see the emergency fund calculator.

Worked example

A goal of RM50,000 in 60 months, nothing saved yet, and no return:

  • Monthly saving: 50,000 ÷ 60 = RM833.33

With RM20,000 already saved: (50,000 − 20,000) ÷ 60 = RM500.00 a month.

Why your number may differ

Returns change and are not guaranteed, fees and tax reduce growth, and prices rise over time. Saving at a different time of the month changes the result slightly. This is a planning guide, not financial advice.

Frequently asked questions

How is the monthly amount worked out?

With no return, it is (goal − already saved) ÷ months. With a return, it is the monthly deposit that grows, together with your savings so far, to the goal at the end of the months.

Should I include a return?

Only if your savings earn one, for example in a fixed deposit or a unit trust. Leave it at 0 to be careful. Returns are not guaranteed.

When do I make the deposits?

The calculation assumes you save at the end of each month. Saving at the start of the month would need a slightly smaller amount.

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