What return should I assume?

Match the rate to where the money will actually sit. For goals a year or three out, use the quoted APY of a high-yield savings account or CD — a rate you can lock in. Stock-market averages are risky assumptions for short deadlines, because one bad year can arrive at exactly the wrong time. Use 0% for a non-interest checking account.

Why is the monthly amount lower than the goal divided by the months?

Because growth does part of the work. Your existing balance compounds toward the goal, and each deposit earns interest from the month after it lands. In the worked example, plain division gives $416.67 a month, but with 4% growth $376.19 is enough.

Why does it show $0 per month?

That means your current balance, grown at the rate you entered for the months you entered, already meets or exceeds the goal on its own. No new deposits are needed under those assumptions. Shorten the deadline or raise the goal to see a positive number.

Are deposits assumed at the start or end of each month?

At the end. Each deposit starts compounding the following month, which is the standard ordinary-annuity convention. If you actually deposit at the start of each month, you will reach the goal slightly ahead of schedule.

Should I adjust the goal for inflation?

Yes, if the goal is priced in today’s dollars and the deadline is years away. Multiply the goal by (1 + inflation)^years first — something priced at $20,000 today will need more nominal dollars later. For deadlines under a couple of years the adjustment is usually minor.

No — everything runs locally in your browser. Your goal and balance are never sent to a server.

Savings Goal Calculator

Work out the monthly amount to save to hit a target by a deadline, with interest.

Runs in your browser — files never leave your device

Goal amount$Already saved$Annual return%Months

Save each month

$397.05

How it works

This calculator answers one question: how much do you need to put away each month to hit a savings target by a specific date? It credits monthly compound growth on two things — the balance you already have and every deposit you make along the way — then solves for the fixed monthly amount that closes the remaining gap.

The annual rate is converted to a monthly rate, i = annual rate ÷ 12. Your existing balance is projected forward first: current × (1 + i)^n over n months. Whatever remains between that projected balance and the goal must come from new deposits, so the tool solves the future-value-of-annuity formula for the payment: monthly amount = remainder × i ÷ ((1 + i)^n − 1), with deposits assumed at the end of each month. At a 0% rate this reduces to remainder ÷ months, and if the current balance alone is projected to reach the goal, the answer is simply $0.

Worked example: you want $20,000 in 36 months, already have $5,000, and expect a 4% annual return. The $5,000 grows to $5,636.36 on its own, leaving $14,363.64 for deposits to cover. The tool reports $376.19 per month. Without any interest you would need (20,000 − 5,000) ÷ 36 = $416.67, so growth saves you about $40 every month. In total you deposit 36 × $376.19 = $13,542.84, and interest supplies the rest.

The return is an assumption, not a guarantee. For goals a few years out, use a rate you can actually lock in — a high-yield savings account or CD — rather than a stock-market average, since short-horizon money cannot ride out a bad year. Remember, too, that the goal is in future dollars: if you priced it in today’s dollars, inflate it first (multiply by (1 + inflation)^years), or you may hit the number without being able to afford the thing it was meant to buy.

Frequently asked questions

What return should I assume?: Match the rate to where the money will actually sit. For goals a year or three out, use the quoted APY of a high-yield savings account or CD — a rate you can lock in. Stock-market averages are risky assumptions for short deadlines, because one bad year can arrive at exactly the wrong time. Use 0% for a non-interest checking account.
Why is the monthly amount lower than the goal divided by the months?: Because growth does part of the work. Your existing balance compounds toward the goal, and each deposit earns interest from the month after it lands. In the worked example, plain division gives $416.67 a month, but with 4% growth $376.19 is enough.
Why does it show $0 per month?: That means your current balance, grown at the rate you entered for the months you entered, already meets or exceeds the goal on its own. No new deposits are needed under those assumptions. Shorten the deadline or raise the goal to see a positive number.
Are deposits assumed at the start or end of each month?: At the end. Each deposit starts compounding the following month, which is the standard ordinary-annuity convention. If you actually deposit at the start of each month, you will reach the goal slightly ahead of schedule.
Should I adjust the goal for inflation?: Yes, if the goal is priced in today’s dollars and the deadline is years away. Multiply the goal by (1 + inflation)^years first — something priced at $20,000 today will need more nominal dollars later. For deadlines under a couple of years the adjustment is usually minor.
Is my data uploaded?: No — everything runs locally in your browser. Your goal and balance are never sent to a server.

Savings Goal Calculator

How it works

Frequently asked questions

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