Savings Goal Calculator
Find how much to save each month to reach a dollar goal by your chosen deadline.
Inputs used
How much do I need to save each month?
Scenario links include your inputs in the URL fragment. Anyone with the link can read them. Use hypothetical amounts when sharing.Adjust the inputs to compare possibilities.
What this means
Your monthly amount follows your deadlineThe estimate is the monthly deposit needed under your assumptions, rounded up to cents. Try extending the deadline or changing the target to see the tradeoff.
Free educational illustration only. Results depend on your assumptions and may not fit your circumstances. This tool does not provide individualized advice; do not use it as your sole basis for a financial decision. Read the financial disclosures.
Uses monthly compounding and month-end contributions at a constant nominal interest rate. Taxes, fees, and inflation are excluded.
How this calculator works
Target and current savings are nominal dollars. Required monthly contribution = (target − current savings grown to the deadline) / monthly annuity factor, floored at zero. At zero interest, divide the remaining gap by months.
Model assumptions: Uses monthly compounding and month-end contributions at a constant nominal interest rate. Taxes, fees, and inflation are excluded.
Model reviewed: October 10, 2026. The monthly contribution is rounded up to the next cent. The contribution total, interest, and projected balance use that rounded payment, which may slightly exceed your target. Defaults and return comparisons are illustrative, not recommended assumptions.
Worked example
For a $20,000 goal with $2,000 already saved and 36 months remaining, assuming zero interest, the required monthly deposit is $500.00.
Hypothetical example, calculated with this tool’s model; not a forecast or recommended assumption.
Load this example in the calculator ↗Common questions
How is the monthly savings amount calculated?
The tool grows your current savings to the deadline, subtracts that amount from the target, and spreads the remaining gap over month-end deposits and their modeled interest. Required deposits round up to cents.
Is the savings rate an APY?
No. This tool uses a nominal annual interest rate divided by 12 for monthly compounding. If your account quotes an effective annual yield, the rate convention differs. Fees and taxes are not modeled.