Savings goal calculator

A savings goal is only useful once it’s a monthly number. This calculator takes a target amount, a target date, what you’ve already saved, and an optional interest rate, and solves for the monthly contribution that gets you there on time.

How the math works

The calculator first projects your current balance forward to the target date at the interest rate you enter, then figures out how much more is needed to close the gap to your goal. That remaining amount is spread evenly across the months between now and the target date, factoring in that each contribution also has time to earn a little interest before the deadline. Push the date out or trim the goal and the required monthly number drops - those are the two honest levers, since the math can’t shrink a fixed goal on a fixed timeline any other way.

Related reading

How to set a realistic savings goal covers picking a number and date that actually fit your budget, and what compound interest is and why it matters for investing explains the growth this calculator applies to your starting balance. A high-yield savings account is the usual place to park money you’re saving toward a near-term goal, and tracking your savings rate instead of just the dollar amount helps keep progress visible month to month.

This tool is a general educational estimate, not financial advice. It assumes a steady contribution and interest rate - actual rates and your ability to save can change. See our disclaimer.