Savings Goal Calculator
Find out exactly how much to save each month to hit your target.
Savings Goal Calculator
Your Result
How This Calculator Works
Enter your goal amount, what you've already saved, your timeframe, and (optionally) an expected interest rate. The calculator works backward from a compound-growth formula to tell you the exact monthly contribution needed to hit your target on time.
Set the interest rate to 0 if you're saving in a regular account with no meaningful growth, this simply divides the remaining amount evenly across your months.
Frequently Asked Questions
What if I already have some savings toward my goal?
Enter it in the 'Amount already saved' field; the calculator only asks you to save the remaining balance.
Should I include interest if I'm saving in a normal checking account?
No, leave the rate at 0% for accounts with negligible interest. Only include a rate if you're saving in a high-yield account or investment.
Can I use this for a house down payment or big purchase?
Yes, this works for any savings goal with a target amount and deadline, weddings, vacations, down payments, emergency funds, and more.