Save each month
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Set a target and see how much to save each month to reach it.
Reaching a savings target comes down to three levers: how much you put away each month, how long you save for, and the interest your savings earn. To find the monthly amount needed, divide the goal by the number of months, then reduce it slightly for the interest you will earn along the way. The calculator above works this out, including compound growth, so you can see the realistic monthly figure for any target and deadline.
Let interest do some of the work. For longer goals, the return on your savings can cover a meaningful share of the target, so money held in a high-interest account or invested (for goals many years away) means smaller monthly contributions. For short-term goals, interest matters little and the monthly amount is almost the whole story.
Build the emergency fund first. Before saving for wants, most guidance is to hold three to six months of essential expenses in an easy-access account. It stops an unexpected bill from derailing everything else, and it is the foundation other goals sit on. After that, automate the monthly transfer on payday so saving happens before spending.