Savings goal calculator
Work out the monthly saving needed to reach a target. Enter your goal, starting balance, time available and an illustrative annual interest rate.
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When to use this calculator
Use this savings planner for a deposit, emergency fund or other future expense. Set interest to zero for a no-growth scenario, and revisit the plan if your goal, deadline or available contribution changes.
How to calculate Savings goal
P is the starting balance, r the annual percentage rate ÷ 100 ÷ 12, and n the number of months. At 0%, monthly saving = max(0, (goal − P) ÷ n). Assumes month-end deposits and monthly compounding. Required deposits cannot be below zero. Interest is an illustrative constant rate, before fees, taxes and inflation.
A worked example
With savings goal of 25,000, starting balance of 5,000, annual nominal rate (%) of 4, time to goal (years) of 5, monthly saving needed is 285 in your chosen currency. Change the example above to match your situation.
Enter amounts in the same currency and time period. Results display up to two decimal places; calculations use unrounded values. These estimates are for planning and education.
Common questions
What if my starting balance already meets the goal?
The required monthly saving is zero if the projected starting balance alone reaches the goal. The projected balance can therefore be higher than the target.
Can I use this without assuming interest?
Yes. Set the annual rate to 0%. The calculator divides the remaining amount needed by the number of months available.