Savings Goal Calculator

Find how much to save each month to hit your goal, or how long it takes at what you can put away.

What Do You Want to Find?
$
$
A high-yield savings APY, or an expected investment return.
Fractions and decimals both work.
–
Per Month
Total deposits
Interest earned
Current savings grow to
Goal reached
Per Week

Goals

Items you add are saved in this browser.

GoalTargetYearsMonthlyRemove

How to Plan a Savings Goal

Your goal is reached by what you have now growing, plus regular deposits growing. Solve that for the deposit you need, or for how long it takes at the deposit you can afford.

Monthly deposit = (goal − current × (1 + i)n) × i ÷ ((1 + i)n − 1)
Months needed = ln((goal × i + P) ÷ (current × i + P)) ÷ ln(1 + i)

i is the monthly rate (APY converted to a monthly rate) and n the number of months; deposits are made at the end of each month. This matches Excel's PMT and NPER functions.

Worked Example

Tips

For goals under a few years, keep the money somewhere safe (high-yield savings, CDs, Treasury bills) and use a modest rate here. Automate the transfer on payday so it happens before you can spend it.