Savings Goal Calculator
Plug in a goal and a date and get the exact monthly number you need to hit it — interest included.
Contributions vs. Interest Earned
Year-by-Year Growth
| Year | Contributed | Interest | Balance |
|---|
About this tool
What this savings goal calculator does
Whether you're saving for a wedding, a down payment, an emergency fund, or just a trip you keep putting off, the hard part isn't wanting the money — it's knowing what to actually set aside each month. This calculator solves that in two directions: tell it a goal and a target date, and it works out the exact monthly contribution; or tell it what you can realistically save each month, and it tells you the date you'll hit your goal instead.
It's not a naive divide-goal-by-months calculation either. Interest compounds monthly on whatever you've already saved plus every contribution along the way, so if you're parking money in a high-yield savings account or a low-risk fund, the number you get here reflects that — not just a flat sum.
How to use it
Pick which question you're asking (monthly amount, or time to goal), enter your target amount, what you've already saved, and either a target date or a monthly contribution amount. Add your account's expected annual return — 4-5% is typical for a high-yield savings account right now, 0% if it's just cash in a drawer. The breakdown below shows contributions vs. interest earned as a bar, plus a year-by-year table so you can see the balance building over time.
A real example
Say you want $10,000 for a house down payment in 2 years, you've already got $1,000 saved, and your account pays 4% APY. Solve for monthly amount and you'll see you need roughly $360-370 a month — noticeably less than the naive $9,000 / 24 = $375 you'd get ignoring interest entirely, because that 4% is quietly doing some of the work for you.
Frequently asked questions
How is this different from a compound interest calculator?
A compound interest calculator tells you what a given contribution grows into. This one works backwards from a goal — you tell it the destination, and it solves for either the monthly payment or the time it takes to get there.
What return rate should I use?
Use your actual account's APY if you know it — check your bank or brokerage statement. If you're saving in cash with no interest, enter 0%; the calculator still works, it just won't have compounding working in your favor.
Does it assume I make contributions at the start or end of each month?
Contributions are treated as happening at the end of each month, which is standard for savings-goal math and matches how most banks calculate monthly interest accrual.
Can I use this for a retirement goal instead of a short-term one?
Yes — the math works the same whether your target date is 8 months or 30 years out, though for very long horizons you may want to revisit your expected return periodically as your investment mix changes.
Is my financial data stored anywhere?
No. Every calculation happens directly in your browser — nothing you enter is sent to a server or saved.