Irish Calculators
Saving & investing

Savings Goal Calculator: Regular Contributions

Enter a savings target and deadline to find the contribution needed each period. The result uses your chosen return and does not fetch account rates or calculate tax.

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Your numbers

%
Use a return after any costs you want included.
Display currency only. Convert all inputs to this currency before calculation.
Your figures stay on this device.

How the calculation works

A savings goal starts with the amount needed at a future date, rather than with an affordable contribution. This model finds the equal deposits that close the gap after allowing the opening savings and later deposits to grow.

Required contribution = max(0, target − initial × (1+i)^n) ÷ annuity future-value factor. i is the effective return per contribution period.

  1. Count the saving periods

    The horizon and frequency establish how many deposits occur. Choose a duration containing a whole number of contribution periods so the payment schedule is unambiguous.

  2. Grow the opening amount

    The starting savings accumulate at the equivalent periodic rate. Their future value reduces the part of the target that new deposits must fund.

  3. Solve for equal contributions

    The remaining target is divided by the future-value factor for the deposit stream. At zero interest, this becomes a simple division by the number of deposits.

Worked example: Check Contribution per period

Sample inputs demonstrate the method. They are not a forecast or product offer.

The first example starts with nothing and targets 1,200 over twelve monthly deposits with no interest. Dividing the target evenly gives 100 per month; every part of the final balance comes from contributions.

Savings target
1200
Starting savings
0
Annual effective return (%)
0
Years to target
1
Periods per year
Monthly
Contribution timing
End of each period
Currency for all amounts
Euro (EUR)

Expected result

Contribution per period
€100.00
Worked example: Check Contribution per period

Sample inputs demonstrate the method. They are not a forecast or product offer.

Savings target
1210
Starting savings
1000
Annual effective return (%)
10
Years to target
2
Periods per year
Annual
Contribution timing
End of each period
Currency for all amounts
Euro (EUR)

Expected result

Contribution per period
€0.00

Understanding your result

The contribution is an amount per selected period, not automatically a monthly figure. Change the frequency when comparing weekly and monthly saving plans.

A zero required contribution means the projected opening savings already cover the target under these assumptions. It does not protect against lower actual returns.

Questions you might have

What does the result include?

Find the regular contribution needed to reach a savings target, using a chosen growth rate and contribution schedule.

Which limits should I check?

No automatic account rate, tax or inflation allowance.

Choosing the right inputs

Savings target
Use the amount required at the target date. If your estimate is expressed in today's prices, adjust the target separately before entering it.
Annual effective return
Enter an annual effective return consistent with the costs you want included. The tool does not choose an account or deduct tax automatically.
Contribution timing
Beginning-of-period deposits receive one more period of growth than end-of-period deposits; choose the timing that matches your plan.

Common mistakes to avoid

  • Do not enter an annual contribution in a monthly contribution schedule.
  • The currency selector changes labels; it does not convert money or supply an exchange rate.

Assumptions to check

  • No automatic account rate, tax or inflation allowance.
  • All calculations run on your device. Figures are scenarios based on your inputs, not investment recommendations.

Sources and method

Read our calculation and testing approach.