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Savings · Goal
Savings Goal Calculator
How much do I need to save each week? Or how long will it take? Enter your goal and get weekly, fortnightly, and monthly amounts instantly.
How much should I save per week?
It depends on your goal and timeline. For a $20,000 house deposit in 2 years with $5,000 already saved and a 4.5% high-interest savings account, you need about $134 per week. For a $50,000 deposit with nothing saved in 3 years, about $300 per week. Use the calculator above with your specific numbers.
What interest rate should I use for a savings goal calculator?
In Australia in 2026, high-interest savings accounts (HISA) typically offer 4.5–5.5% p.a. when you meet monthly deposit conditions. Term deposits can offer 4.5–5.5% for 6–12 month terms. For general planning, 4.5% is a conservative and realistic estimate.
How do I save for a house deposit in Australia?
You typically need 5–20% of the property price. With the First Home Guarantee (FHBG), eligible buyers can purchase with as little as 5% without paying Lender's Mortgage Insurance (LMI). Put savings in a high-interest savings account (HISA) to earn 4–5% while you save. The First Home Super Saver (FHSS) scheme lets eligible buyers save up to $50,000 inside super and withdraw it for a deposit at a tax advantage.
Why fortnightly savings calculator?
Most Australians are paid fortnightly, making it the most natural savings cadence. Fortnightly deposits also compound slightly faster than monthly because there are 26 deposits per year rather than 12 — effectively 2 extra payments annually. Automating savings on payday is the most reliable way to reach any savings goal.