Savings Goal Calculator

About this calculator

Pick an amount you want to have saved and the number of months you have, and see how much to put aside each month. Add the savings you already hold and an expected yearly return to see how growth shrinks the monthly amount.

How it works

• Your current savings grow for the whole period: current savings times (1 + i)^n, where i is the yearly rate divided by 12 and n is the number of months.
• The rest of the goal is reached with equal deposits at the end of each month: the amount still needed times i, divided by ((1 + i)^n minus 1).
• With a return of 0%, the amount still needed is simply divided by the number of months. If your savings already reach the goal, the monthly amount is zero.

This tool gives general figures, not financial, tax or legal advice. Real offers include fees and rules that are not modelled here.

Common questions

What return should I enter?

The rate your savings account or investment actually pays, after fees if you know them. If you are not sure, leave it at 0% to see the amount without any growth.

Why is the total I put in less than the goal?

Because interest or growth makes up the difference. The calculator shows how much of the goal comes from growth.