Tools & Calculators

How much do I need to save each month to pay for something in the future?

Whether you're saving for a deposit on a house, a car or a wedding, just fill in this handy calculator to see how much you may need to put away each month.

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I'd like to save up for a in years time

which costs £ (in today's money)

at a growth or interest rate of (up to 20.00%) %

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If you started today, you would need to save around x* each month for x years*.

We have allowed for inflation at a rate of x% each year.

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Based on this information I'd like a Scottish Widows consultant to contact me

* Notes about this calculator

The figures are only illustrative and are not guaranteed.
The actual return on any savings or investment will depend on; the amount you invest, how long you invest for, the interest rate or investment performance, any tax payable and the tax circumstances of the investor and the effects of inflation.
We have not included any product fees or charges in our calculations.
The value of investment products is not guaranteed and their value can fall as well as rise and you could get back less than you invested.

Did you know?

Don't let inflation eat away at your savings.

If your money isn't earning at least the rate of inflation, your purchasing power is in decline. To avoid this, you should keep a regular check on the balances that you hold in your everyday bank and building society accounts. If it's well above the amount you need to have readily accessible, think of transferring it to a higher earning account.

Find out more about investing with our beginner's guides, or take a look at Scottish Widows Investment Products or call us now on 0845 7678910 - Option 3*

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The growth or interest rate you selected is not guaranteed and may not be available or realistic to an actual savings account or investment.

Inflation refers to the continual increase in prices. As prices rise, the value of money falls, so the pound in your pocket has progressively less buying power. Price inflation for specific goods and services can differ greatly to the underlying overall inflation rate.