Level 4 · Stability
Savings goal calculator: when will you get there — and which rate do you need?
A goal is an amount. A plan is an amount with a rate and a date. Enter what you save or when you want to get there — the calculator supplies the missing piece.
Does the rate fit your budget? The flex budget calculator shows what is free each month.
What sum does with this numberMonthly compounding, nominal, before tax. The interest rate is an assumption, not a promise.
Your inputs stay in your browser. Nothing is stored or transmitted.
How to go about it
- Enter goal and current balance. Your target amount and what you have already set aside for it.
- Choose the question. “When will I get there?” works out the date from your rate. “Which rate do I need?” works out the rate from your target date.
- Check the interest. For short-term goals the money belongs in an instant-access savings account (Tagesgeld) — zero to a few percent, no shares. The slider shows what interest changes: usually little.
Frequently asked questions
What separates a savings goal from a plan?
A goal is an amount. A plan is an amount plus the rate at which you reach it, plus the date that follows. Only the rate turns a wish into a decision you feel in your monthly budget.
Should I include interest?
For goals under five years, hardly. The money belongs in an instant-access savings account, and one to three percent changes the date very little. The calculator shows you exactly how little.
I have several goals — what then?
Then the sum of all rates has to fit your budget. The most common mistake is five parallel goals whose rates together add up to more than is left each month. The flex budget calculator shows how much is left.
Related
In sum a goal is a rate, not a progress bar
You set up savings and investment goals, attach a monthly rate and see the forecast of when you will get there at this pace. The rates come straight off your available budget — what is reserved for a goal never shows up as free money in the first place. Today you bring your transactions in via CSV import; the automatic bank connection (PSD2) is in the works.
sum is in early access.
The first step toward your financial goals is the overview — that's exactly what we're building sum for. Secure your access early.