When will I reach my savings goal?

“Based on your current deposits we estimate you will reach your goal in X days / X months / X years”

Just below the goal of the pot.

I think I like the idea but I’m confused.

Say I have a goal of £200 and I put £50 a week in.

On week two it predicts that I’ll hit my goal in 2 weeks but then I don’t put any money in. How does it then know how long it will take me to reach my goal? It doesn’t know when I’m likely to add money again - if ever?

it would calculate it based off the times between deposits, of course if you didn’t deposit anything then it would say something like “deposit x amount to reach your goal within x time” or “deposit x amount to stay on track with your savings”, the x amount recommended would be made up from previous deposits. For example if on week two you didn’t put anything in it would say deposit £50 to reach your goal of £200 within 3 weeks.

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The simple approach would be to average the deposits over a time frame and use that, but really it needs to be a bit smarter. Are more recent deposits more important (maybe you changed job and the last two months you’ve been saving double… they’re more representative of future deposits, etc).

To keep it simple and easy to understand it could also just say “Last month you deposited X, if you keep that up you’ll reach your goal of A on Y”


Spot on! Pretty much what I was thinking but worded much better :+1:


This has already been raised before, personally id also love it. Makes pots all that more personable and definitely will help people meet their goals

@Peter_G worth merging these two threads?

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Helping people save?


You have set yourself say a £2000 goal to go interrailing next June 1st 2021.

You currently have £50 in the pot and you want to know how much you need to keep adding on a weekly/monthly basis to meet your goal?

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That’s much simpler than what was suggested. It would just be…

(pot goal amount - amount in pot) / months until pot deadline :raised_hands:

The OP didn’t want to set a deadline though, they wanted the app to predict when they would hit their goal.

When I’m saving I don’t always put in the same amount, some times I just put in what I can, I would want something to tell me by using averages of amounts I’ve put in roughly when I would reach my goal, this would then tell me if I need to put more in.

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You know this is a good idea, maybe we could set deadlines and Monzo would calculate what was needed each month to reach that deadline, if no deadline is set it would calculate when you would reach your goal based on current deposits?

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For example I’m saving for a house or I’m saving for a camera, I don’t have a specific date I need it by but want to know at my current saving rate when that will be?


Nationwide have this in their app already.

Or at least they did until they withdrew the Regular Saver :man_shrugging:

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It’s still there. I haven’t used it, but here’s what it says.


This is exactly what I was envisioning! Something like the RBS/NatWest system.

Both of those have target dates, I thought you wanted it estimating from your deposits? :confused:

As you can see in the screenshot it estimates a date that you will reach your goal, so something like this.

But you’ve also set a target payment which it can reference to help calculate this.

This shouldn’t be using the set target date to calculate the predicted date as this will be using the deposit patterns to predict a date instead. The functionality is there in the RBS/NatWest apps. What I’m proposing is that if you do not set a date it still predicts a date that you will reach your goal much like in the screenshot that predicts that you will reach a goal on a certain day.

Sorry I made a typo in my comment. I meant target payment. I’ve corrected it now :slight_smile:

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