Finance

Savings Goal Calculator

Enter a target, a timeline, and an expected return — we'll solve for the monthly contribution you need to hit it.

Quick presets

Savings targetCurrent savings (optional)Years to goalExpected annual return (%)0% is fine for a pure savings plan without investment growth.

What this calculator does

Most savings tools tell you how much a monthly deposit will grow into. This one works backwards: you name the amount you want at the end and the date you need it by, and it solves for the monthly deposit. It's the right tool whenever you have a fixed goal — a down payment, a car, a wedding, a tuition payment — and need to know the contribution rate that gets you there on time.

How to use the savings goal calculator

1
Enter your target amount
Type the total you want to have at the end of the horizon.
2
Add current savings
If you already have something set aside toward this goal, enter it so it compounds too and reduces the monthly ask.
3
Set the years to goal
The number of years from now until you need the money.
4
Enter the expected return
Use 0% for cash/HYSA-style saving or a realistic long-run investment return. Err low for conservative planning.
5
Read the monthly number
The result shows the contribution needed each month, plus the split between what you put in and what interest adds.
6
Stress-test the plan
Try a shorter horizon, a lower rate, or a higher target to see how the required monthly changes — this shows which lever matters most.

Formula

FV = P × (1 + r/12)^(12·t) + PMT × [((1 + r/12)^(12·t) − 1) / (r/12)]
Solve for PMT:
PMT = (FV − P × (1 + r/12)^(12·t)) × (r/12) / ((1 + r/12)^(12·t) − 1)
Where:
  FV = target amount
  P = current savings
  r = annual return (decimal)
  t = years
  PMT = required monthly contribution

The future-value equation adds what your current balance grows into at the expected rate, plus what a regular monthly deposit compounds into over the same period. Rearranging it to isolate PMT gives the contribution that makes both sides match your target. When the rate is zero, the formula collapses to (target − current) / months.

Reference: Future value of an annuity (Wikipedia)

Examples

Target → Horizon → Rate	Monthly contribution
$15,000 in 2 years at 4%	~$602/month Typical emergency fund plan in a high-yield savings account.
$60,000 in 5 years at 5%, $10,000 already saved	~$690/month Home down payment with a running head start.
$200,000 in 18 years at 7%	~$464/month College fund from birth to age 18 at a moderate equity return.
$30,000 in 4 years at 0%	$625/month Flat-rate saving with no investment growth.

When to use this calculator

Planning a home down payment with a fixed move-in date
Backing into a monthly saving rate for a wedding, honeymoon, or other dated expense
Sizing an emergency fund by a target month
Estimating the monthly deposit for a child's college fund from a chosen starting age
Checking whether an aggressive retirement catch-up is realistic on your income
Pressure-testing a savings plan against a lower assumed return

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Frequently asked questions

How is this different from the compound interest calculator?

Compound interest goes forwards: you set a contribution and see the ending balance. This one goes backwards: you set the ending balance (your goal) and it solves for the contribution. If you already know what you can save each month and want to know where you'll end up, use the compound interest calculator instead.

What rate should I use for a savings account vs. investments?

For a high-yield savings account, use the current APY (commonly 4–5% in recent years, but it changes). For a diversified stock/bond portfolio, a long-run assumption of 5–7% before inflation is common in planning literature. If in doubt, run the calculator twice — once at a realistic rate and once at a pessimistic one — and budget for the higher required contribution.

Why does the monthly number drop so much when I extend the horizon?

Two reasons. More months means the same target is divided into more payments. And more years means compounding does more of the work — interest on interest snowballs in the later years. Doubling the horizon typically cuts the required monthly by well over half when the rate is non-trivial.

What does 'Not reachable' mean?

It means the goal is below what your current balance will grow into on its own at the chosen rate — so no additional monthly contribution is needed. Either your target is too small for the horizon, or your current balance is already large enough; raise the goal or shorten the horizon.

Should I include inflation?

This tool calculates nominal amounts. If you want the target in today's dollars, subtract your expected long-run inflation from the entered rate. For example, at a 6% nominal return with 3% expected inflation, enter 3% to solve for the contribution needed to hit the target's real purchasing power.

What if my target date is less than a year away?

Enter the horizon as a fraction of a year (e.g., 0.5 for 6 months). The calculator will still work, though at very short horizons interest contributes little and the required monthly approaches (target − current) / months.

Is my information stored or sent anywhere when I use this tool?

No. All math runs locally in your browser. The target, current balance, horizon, and rate are never transmitted, logged, or stored — close the tab and they're gone.

Last updated 2026-04-20

What this calculator does

How to use the savings goal calculator

Enter your target amount

Type the total you want to have at the end of the horizon.

Add current savings

If you already have something set aside toward this goal, enter it so it compounds too and reduces the monthly ask.

Set the years to goal

The number of years from now until you need the money.

Enter the expected return

Use 0% for cash/HYSA-style saving or a realistic long-run investment return. Err low for conservative planning.

Read the monthly number

The result shows the contribution needed each month, plus the split between what you put in and what interest adds.

Stress-test the plan

Try a shorter horizon, a lower rate, or a higher target to see how the required monthly changes — this shows which lever matters most.

Formula

FV = P × (1 + r/12)^(12·t) + PMT × [((1 + r/12)^(12·t) − 1) / (r/12)]
Solve for PMT:
PMT = (FV − P × (1 + r/12)^(12·t)) × (r/12) / ((1 + r/12)^(12·t) − 1)
Where:
  FV = target amount
  P = current savings
  r = annual return (decimal)
  t = years
  PMT = required monthly contribution

Examples

Target → Horizon → Rate	Monthly contribution
$15,000 in 2 years at 4%	~$602/month Typical emergency fund plan in a high-yield savings account.
$60,000 in 5 years at 5%, $10,000 already saved	~$690/month Home down payment with a running head start.
$200,000 in 18 years at 7%	~$464/month College fund from birth to age 18 at a moderate equity return.
$30,000 in 4 years at 0%	$625/month Flat-rate saving with no investment growth.

When to use this calculator

Planning a home down payment with a fixed move-in date

Backing into a monthly saving rate for a wedding, honeymoon, or other dated expense

Sizing an emergency fund by a target month

Estimating the monthly deposit for a child's college fund from a chosen starting age

Checking whether an aggressive retirement catch-up is realistic on your income

Pressure-testing a savings plan against a lower assumed return

Frequently asked questions

How is this different from the compound interest calculator?

What rate should I use for a savings account vs. investments?

Why does the monthly number drop so much when I extend the horizon?

What does 'Not reachable' mean?

Should I include inflation?

What if my target date is less than a year away?

Is my information stored or sent anywhere when I use this tool?

No. All math runs locally in your browser. The target, current balance, horizon, and rate are never transmitted, logged, or stored — close the tab and they're gone.