Comprehensive Calculator Guide
📋Overview
The Savings Goal Calculator helps you with financial planning and knowing the amount you need to save monthly to reach your goal.
🎯How to Use
- Set your financial goal (target amount)
- Enter current savings amount
- Set the time period to reach the goal
- Enter expected return rate (if any)
- Get the required monthly amount
🔢Formula Used
Monthly Contribution = (Goal - Current Amount) / Number of Months💡Practical Examples
Example: Saving for a car
Goal 100,000 SAR in 3 years = about 2,780 SAR monthly
❓Frequently Asked Questions
Q:How can I increase my savings?
A: Set a clear budget, reduce unnecessary expenses, and invest in accounts with returns.