Savings Goal Calculator
Find out how much to save each month to hit a savings goal by your target date, accounting for expected returns.
To find the monthly saving needed for a goal, subtract the future value of what you have already saved from your target, then divide by the annuity factor ((1 + r)^n − 1) / r, where r is the monthly return and n the number of months. Reaching $50,000 in 5 years from $5,000 saved at 4% takes about $662 a month.
Turn a goal into a monthly plan
A savings goal only becomes achievable once it’s broken into a monthly number. Set your target — an emergency fund, a down payment, a car, a wedding — tell the calculator how long you have, and it works out exactly how much to put aside each month, including the boost from interest or investment returns along the way.
Curious how that money could grow if you keep going past your goal? Run it through the compound interest calculator.
Frequently asked questions
How much should I save each month to reach my goal?
It depends on your target amount, how much you've already saved, your time frame, and your expected return. Enter those above and the calculator solves for the monthly amount that gets you there.
What return rate should I assume?
For money you'll need soon, a high-yield savings account (around 4–5%) is realistic and low-risk. For goals many years away, some people invest and model a higher long-term return, accepting more short-term volatility.
What if it says I need to save $0?
That means your current savings plus expected growth already reach the goal within your time frame, so no additional monthly contributions are strictly required.
Does this account for inflation?
Not directly. If your goal is far in the future, consider setting a slightly higher target or using an inflation-adjusted ('real') return to keep your buying power intact.
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