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When will you hit your savings goal?

Enter your goal and what you put aside each week, fortnight, or month. We'll land your answer on a real date you can plan around, not a vague number of years. Free to use, with no sign-up.

You'll hit $20,000 after
60 fortnightly deposits
about 2 years and 3 months of saving
Interest, if set, compounds each period. No fees or tax assumed.

How long will it take to reach your savings goal?

Say you're putting away $300 a fortnight towards a $20,000 goal, with $2,000 already saved. That leaves 60 fortnightly deposits to go. The first lands today and the rest follow every 14 days, so the 60th falls 826 days out, about 2 years and 3 months from now.

It adds any interest as it goes. Change any number and the date moves as you type.

How much do I need to save each week, fortnight, or month?

Switch to "How much to save?" and the calculator runs the other way. Tell it the goal, what you've already put aside, and the date you want to hit, and it works out what each deposit has to cover.

Say you want $10,000 in 18 months and you've got $1,500 saved. That leaves $8,500 to find, which is roughly $470 a month, $218 a fortnight, or $109 a week. The calculator counts the real deposit dates between now and your target, so its figure can land a dollar or 2 either side. If it comes back higher than you can manage, push the date out and watch it drop.

Turn the plan into a habit

A date is a great start. Sticking to it is the hard part. The Budgeting App helps you get there one deposit at a time: set the goal, track every contribution, and watch the gap close. It's free on iOS and Android, with no ads. With Pro, the app's savings insight works the date out for you from the deposits you actually make.

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Frequently asked questions

How does the savings goal calculator work?

Tell it your goal, what you've saved so far, how much you put away, and how often. It counts forward to a real calendar date, not a vague number of years. Flip it around and it tells you how much to save to hit your goal by a date you choose.

Can I save fortnightly or weekly, not just monthly?

Yes. Pick weekly, fortnightly, twice a month, or monthly. Fortnightly is the most common pay cycle in the US: 43% of private-sector workplaces pay every 2 weeks and 27% pay weekly, while only about 1 in 10 pays monthly (US Bureau of Labor Statistics, February 2023). And because this one counts real dates, saving fortnightly lands on 26 or 27 deposits in a year, depending on the calendar, so your date is accurate rather than an average.

How many fortnightly pays are there in a year?

26 in most years, and 27 in some. A fortnight is 14 days, so 26 of them cover 364 days and leave a day or 2 spare. Those spare days build up until a 27th payday falls inside the year, which happens roughly once a decade. Weekly savers get the same effect more often: 52 deposits most years, and 53 every 5 or 6. This calculator counts real deposit dates, so the extra one shows up where it actually falls instead of being averaged away.

Is it better to save weekly, fortnightly, or monthly?

Whichever matches how you're paid. The rhythm matters less than the yearly total: $100 a week, $200 a fortnight, and $433 a month all come to about $5,200 a year. Two things do tip it. Saving on payday means the money leaves before you can spend it. And weekly and fortnightly cycles slip in an extra deposit some years, which monthly never does.

Do I need to enter an interest rate?

No. Interest is optional and starts at 0, because most everyday savings accounts earn very little and most calculators make you enter a rate before they'll show you anything. If you're saving into an account that does pay interest, add the rate and we'll compound it into the total.

Is it free, and do I need to sign up?

It's free, with no sign-up, no email, and no ads. If you'd like to track your goal and watch the gap close, The Budgeting App is free on iOS and Android.