Savings goal calculator

A house deposit, a car, matric dance, December holiday or emergency fund: find out how much to put away each month.

How it's calculated

What you've already saved grows at your interest rate. We then work out the fixed monthly deposit that closes the gap by your deadline. Set the rate to 0 if the money sits in an ordinary account.

Where to keep short-term savings

For goals under about 3 years, use a high-interest savings account, notice deposit or money market fund rather than shares, so the money is there when you need it. Many SA banks pay close to the repo rate on notice and money market accounts.

How big should an emergency fund be?

A common guideline is 3 to 6 months of essential expenses: rent or bond, food, transport, insurance and debt repayments.