Savings Goal Calculator
Make a plan. Reach your goal.
Saving for something important? Calculate how much to set aside each month or find out how long your current savings plan could take to reach your target.
🎯 Plan your savings goal
💡 Interest is compounded monthly, and contributions are made at the end of each month. The annual rate is an assumption, not a guaranteed return.
⚙️ How the estimate works
In monthly savings mode, the calculator determines the contribution needed to reach your goal within your chosen period. In time-to-goal mode, it estimates the number of monthly deposits required.
Calculations exclude taxes, fees and inflation. Currency selection changes formatting only and does not perform currency conversion.
📊 Your savings journey
Blue represents your own savings. Green represents estimated interest earned. The dashed line marks your savings goal.
🧠 How to plan a savings goal
Start by choosing a target amount and a realistic time horizon. Subtract the money you’ve already saved, then determine how much you need to contribute regularly to close the gap.
If your savings earn interest, those earnings can help you reach your goal. The impact depends on the interest rate, time available and frequency of contributions.
🧮 Example: Saving $20,000
Imagine you want to save $20,000 over five years. You already have $2,000 saved and expect a hypothetical 3% annual interest rate, compounded monthly.
With 60 monthly contributions, you’ll need to save approximately $273 each month to reach the target.
💡 Frequently Asked Questions
That depends on your target, current savings, time horizon and expected interest. Enter these values above to calculate the monthly amount needed.
Yes. Positive interest can increase your balance over time and reduce the amount you need to contribute. Actual interest rates and investment returns may change.
You could extend your time horizon, increase your monthly savings, adjust the target or combine these approaches. Avoid assuming unusually high returns simply to make the numbers work.
No. It shows nominal future amounts. For longer-term goals, consider whether your target will need to increase as prices change.
Yes. You can set a target based on your expected emergency expenses and estimate how much to save monthly. Consider keeping emergency funds accessible and appropriately protected.