Savings Goal Calculator
Find out how long it takes to reach any savings target, or how much to save each month.
Quick fill — common savings goals
Target period
How it works
FV = PV × (1 + r/12)^n + M × [((1 + r/12)^n − 1) / (r/12)] Solving for M (monthly payment): M = (FV − PV × (1 + r/12)^n) / [((1 + r/12)^n − 1) / (r/12)] FV = Future value (goal) PV = Present value (current savings) r = Annual interest rate (as decimal) n = Number of months M = Monthly payment needed
Set a savings goal and your target date (or number of months). Enter your current savings and the interest rate your savings account earns. The calculator tells you exactly how much to save each month. Use the quick-fill buttons for common goals, and explore scenarios to see if your goal is realistic.
Why this matters
Most people know what they want to save for—a holiday, a car, an emergency fund—but they don't know how much to save each month. Without a concrete number, saving feels vague and motivation fades. This calculator removes the guesswork. It shows: (1) your exact monthly target, (2) how much interest will help you, (3) whether your goal is realistic (or if you need to adjust it), and (4) the month-by-month progress. Seeing the progress bar and chart makes the goal feel achievable.
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The complete guide to savings goal calculator
Formulas, examples, and tips explained in plain English