Savings Goal Tracker
Set and track your savings goals with visual progress
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Start tracking your savings goals to see your progress visualized here.
Key Terms Explained
Plain-English definitions of the financial terms used in this calculator.
- AER (Annual Equivalent Rate)
- The interest rate on savings accounts once compounding is included, showing what you would actually earn over a year. Use AER, not the headline gross rate, to compare savings accounts fairly.
- Compound Interest
- Interest earned on both your original money and on interest already added. Over long periods compounding accelerates growth dramatically, the earlier you start saving or investing, the more it works in your favour.
- ISA (Individual Savings Account)
- A UK account where interest, dividends and capital gains are completely tax-free. You can pay in up to £20,000 per tax year across Cash ISAs, Stocks & Shares ISAs and Lifetime ISAs.
- Inflation
- The rate at which prices rise over time, eroding the buying power of money. If inflation is 3%, £100 today buys only about £97 worth of goods next year, which is why long-term savings need to beat inflation.
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Not Financial Advice: This calculator is for informational and educational purposes only. Results are estimates and do not constitute financial advice, recommendations, or regulated advice. We are not authorised or regulated by the Financial Conduct Authority (FCA). Always consult a qualified financial adviser for personalised advice. Tax treatment depends on your individual circumstances and may change. Tax laws and rates may change. Past performance does not guarantee future results.
