Savings Goal Calculator
Plan toward a savings target. Enter your goal, what you've saved already, your timeline, and an expected return to see the monthly contribution you need.
Balance toward goal
🏦 Open a high-yield savings account
Check it outMake the goal concrete
Turning a big target into a monthly number makes it achievable. Interest does some of the work, especially over longer timelines, so a higher expected return lowers the amount you must contribute. If the monthly figure is too high, extend the timeline or trim the goal.
How it’s calculated
Required monthly = (goal − future value of current savings) ÷ the annuity factor for your timeline and return.
Results update as you type and are estimates, not professional advice — verify important decisions with a qualified professional.
Worked example
To reach $20,000 in 24 months with $2,000 saved at 4%, set aside about $715/month.
Common mistakes
- Assuming an unrealistic return for a short-term goal.
- Forgetting the interest your current savings earn.
Where it is used
- Planning monthly savings for a down payment or trip.
- Adjusting a timeline to a comfortable monthly amount.
Frequently asked questions
What return should I assume?
For short-term goals, use a conservative figure close to a high-yield savings rate. Longer horizons can justify higher, riskier assumptions.
What if I've already saved some?
Enter it under 'already saved' — it grows with interest and reduces what you need to add.
Is interest guaranteed?
No. Savings accounts are stable; investment returns vary and can be negative in any given year.
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