Savings Goal Calculator
Find out how much to set aside each month to reach a savings goal by your deadline, with interest factored in. Everything runs locally in your browser.
New to this? Read the Savings Goal guide →
- Save each month
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- Total you'll add
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- Interest earned
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Progress to goal
Balance Goal
Year-by-year plan
| Year | Contributions | Interest | Balance |
|---|
Estimates only, assuming a constant rate and equal deposits made at each month's end. Not financial advice.
How to use the savings goal calculator
- Enter your target amount and any money you have already saved.
- Set your timeframe and an expected annual return.
- See the monthly contribution needed to hit the goal, and how much of the total comes from growth.
How it works
The calculator works backward from your goal. It accounts for compounding on both your starting balance and each monthly deposit, then solves for the contribution that reaches the target in time. A longer timeframe or a higher return lowers the monthly amount you need, because growth does more of the lifting.
Tips for hitting the goal
- Start as early as you can. More time means a smaller monthly contribution.
- Automate the deposit so it happens before you can spend it.
- Be realistic about the return; a lower, steadier assumption avoids a shortfall.
Curious how the growth side works? Read how compound interest works.
Where you'd use this
Turning a target and a deadline into the monthly number you actually have to transfer, including what interest contributes.
For example: A $30,000 house deposit in four years needs about $595 a month at 4% interest — the interest covers roughly $1,400 of it, so the saving does most of the work and the return is a rounding error at this horizon.
Frequently asked questions
What does the savings goal calculator do?
It works out how much to save each month to reach a target amount by a chosen date, optionally accounting for interest earned on your balance.
Can I solve for time instead of a monthly amount?
Yes. Enter a monthly contribution to see how long it takes, or a deadline to see the monthly amount required.
Is this financial advice?
No. It is a planning estimate based on the numbers you enter, computed in your browser.