Savings Goal Calculator
This savings goal calculator helps you build an emergency fund, save for a deposit, or hit any other money target. Enter your monthly expenses and the number of months of cover you want (3, 6 or 12), or skip the rule and enter a custom target. Add what you already have saved and what you can put aside each month — the calculator returns the months remaining, a progress bar and your projected finish date. Example: a household with EUR 3,000 monthly expenses targeting 6 months of cover (EUR 18,000), starting with EUR 4,000 saved and adding EUR 500 per month, reaches the goal in 28 months. The classic personal-finance rule is 3 months of expenses for stable salaried households, 6 months for couples with one income, and 12 months for freelancers and the self-employed.
Most experts recommend 3 months for stable salaries, 6 for single-income households, 12 for freelancers.
How to use this calculator
- 01Enter your typical monthly expenses or a custom target amount.
- 02Pick the rule that fits your situation — 3, 6 or 12 months of cover.
- 03Add what you already have saved towards this goal.
- 04Set how much you can realistically transfer to savings every month.
- 05Read your progress, months remaining and estimated finish date.
- •Emergency funds belong in instantly accessible accounts, not invested.
- •3 months of expenses is the floor; freelancers should aim for 12.
- •Automate the monthly transfer — manual savers underperform automated savers by 40%+.
- •Once funded, stop adding and redirect new savings to investing.
- •Recompute the target whenever expenses change by more than 10%.
Frequently asked questions
How many months of expenses should an emergency fund cover?
3 months is the floor for stable salaried employees with two incomes. 6 months suits single-income households and most professionals. 12 months is recommended for freelancers, contractors and the self-employed because revenue is more volatile.
Where should I keep my emergency fund?
In a high-interest savings account or money market account you can access within 1–3 days. Avoid term deposits longer than 3 months and never invest the emergency fund in stocks.
Should I invest while I still have credit card debt?
Pay down high-interest debt first. A guaranteed 18% return from clearing card balances beats any reasonable expected stock return.
What counts as monthly expenses?
Rent or mortgage, utilities, groceries, insurance premiums, transport, debt payments and basic family costs. Exclude restaurants, holidays and discretionary subscriptions — an emergency fund covers needs, not wants.
How long should it take to build the full fund?
Aim for 12–24 months. Front-load by cutting one or two large monthly expenses temporarily; once funded, redirect the same amount to investing.
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