Calculating Saving Goals

Is there a simple formula for calculating how much I need to set aside in order to reach my saving goals?

Hi there,

The comprehensive savings calculator on moneyland.ch makes it easy to find out how much you need to save in order to meet your saving goals.

If you want to know how long it will take you to reach a savings goal, just select the "savings term" option. If you want to find out how much you need to put aside initially to launch your savings plan, just select the "Initial deposit" option. If you want to find out how much you will save by putting aside a certain amount, select the "Target capital" option. If you want to find out how much you need to set aside and how often, select the "Deposits" option. You can also enter an interest rate (of your savings account, for example) at which savings earn interest.

Example:

You have 100 francs of savings to begin with, and want to save 1000 francs. You can afford to set aside 50 francs per month and you earn interest of 0.1%. Result: You will reach your savings goal in 1 year and 8 months.

Best regards from Moneyguru

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