Savings Goal Calculator
Find out how much to save each month to reach a goal by a deadline, or how long it'll take at the pace you can afford.
Your balance over time
Saving for several things at once? Track every goal with the Savings Goals & Sinking Funds Tracker: $7.
See the templateHow this calculator works
Choose what you want to know. How much per month works out the monthly deposit needed to reach your goal in the number of months you choose. How long will it take counts the months until a monthly deposit reaches your goal.
If you enter an interest rate, it's treated as an annual percentage yield (APY) and converted to an equivalent monthly rate, with interest added before each month's deposit. Savings rates change over time, so treat interest as an estimate, or leave it at 0% for a conservative plan.
Want the full explanation? Read our guide: Sinking Funds Explained: How to Save for Expenses You Know Are Coming.
This calculator is for education and planning only. It isn't financial advice, and results are estimates based on the numbers you enter.
Questions & answers
How do I calculate how much to save per month?
Without interest, divide what you still need by the number of months until you need it. For example, $8,500 over 24 months is about $354 a month. Interest lowers the amount slightly.
What interest rate should I use?
Use the current rate on the account you'll save in, or 0% to be conservative. High-yield savings rates vary over time.
Should I save for several goals at once?
Many people do, using sinking funds: a small monthly amount for each upcoming expense. Our sinking funds guide explains how.
Is my information saved or shared?
No. Everything is calculated in your browser and nothing you type is sent anywhere.