Savings Goal Calculator
Calculate how much to save monthly to reach your financial goal
How much do you want to save?
How much have you already saved?
How many years until you need the money?
Annual return rate on your savings
Growth Projection
Year-by-Year Breakdown
| Year | Balance | Contributions | Interest |
|---|---|---|---|
| Yr1 | $26,250 | $25,381 | $869 |
| Yr2 | $43,331 | $40,762 | $2,569 |
| Yr3 | $61,287 | $56,143 | $5,144 |
| Yr4 | $80,160 | $71,524 | $8,637 |
| Yr5 | $100,000 | $86,905 | $13,095 |
About Savings Goals
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What is this tool?
The Savings Goal Calculator determines how much you need to save monthly to reach a financial target within your chosen time horizon. Factor in your current savings, target amount, and expected annual return rate to get a realistic monthly contribution amount.
How to use
- 1
Set your goal
Enter your target amount, current savings, and time horizon in months or years.
- 2
Enter return rate
Input expected annual investment return rate (or 0% for zero-interest savings).
- 3
View monthly amount
See the required monthly savings, total contributions, and total interest earned.
Frequently Asked Questions
What return rate should I assume?
For conservative estimates: 1-2% for savings accounts, 4-5% for bonds, 7-10% for stocks. Use a lower rate for more certainty, or use 0% for guaranteed savings.
Does this account for inflation?
No, this uses nominal amounts. Adjust your target upward for inflation—e.g., if inflation is 3% and your goal is 5 years away, increase the target by about 16%.
What if I save weekly instead?
Divide the monthly result by 4.33 (average weeks per month) to get a weekly savings amount.