🎯 Savings Goal Calculator
Saving for a car, a wedding, a home deposit or a trip? Enter the goal, what you already have, the time and an interest rate.
How the Savings Goal Calculator works
Your current savings grow with monthly interest. The calculator then finds the monthly deposit that, with interest, fills the rest of the gap by the deadline.
Step-by-step calculation
- 1Enter the goal, current savings and years.
- 2Grow current savings with interest.
- 3Find the monthly deposit that fills the remaining gap.
Worked example
To reach $20,000 in 3 years with $2,000 saved at 4% interest, save about $464.77 a month.
Savings Goal Calculator examples
| Savings goal ($) | Save each month |
|---|---|
| 10,000 | $202.86 / month |
| 15,000 | $333.81 / month |
| 20,000 | $464.77 / month |
| 25,000 | $595.72 / month |
| 30,000 | $726.67 / month |
Other inputs kept at the calculator's default values. Results calculated by this calculator.
Why use a Savings Goal Calculator?
Turn a goal into a clear monthly saving amount.
Important factors that can affect your results
- Interest rate assumptions.
- Starting late means bigger deposits.
- Short goals are safer in savings than stocks.
Frequently asked questions
What if I earn no interest?
Enter 0%. The monthly amount is then simply the gap divided by the number of months.
Should I invest for short goals?
For goals under about 3–5 years, most people use savings accounts or CDs because markets can fall.
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Last reviewed November 2026 · How we build and check our tools · Report a problem