Savings Goal Calculator
Pick a goal and a deadline; see what you need to put away each month.
| Monthly saving needed | $232.38 |
|---|---|
| Total you deposit | $9,365.77 |
| Interest does the rest | $634.23 |
How to use it
- Enter the goal and what you already have set aside.
- Enter your savings account rate, or 0 to ignore interest.
- Enter how many years you have (0.5 for six months).
Formula
Monthly saving = (Goal − Current × (1 + i)^n) × i ÷ ((1 + i)^n − 1)i = annual rate ÷ 12, n = months
Example
To save $1,200 in one year with no interest you need $100 a month. With $1,000 already saved toward $10,000 over 3 years at 4%, you need about $232 a month.
Questions
Where should savings for a short goal go?
Many people use a high-yield savings account for goals under a few years, since the balance doesn't swing like stocks. This site doesn't give financial advice.
What if I already have enough?
The calculator shows $0 a month and how much your current savings grow to.
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Last reviewed 2026-10-10. Found a mistake? Tell us.