Savings Goal Calculator
Find out how much you need to save each month to reach your financial goal on time.
Before you calculate
The required contribution depends on deposit timing and the assumed rate. It does not guarantee the savings product will maintain that rate.
Savings Goal Planning
The monthly contribution needed depends on your goal, existing savings, the interest rate, and the time horizon. Starting earlier dramatically reduces how much you need to save each month.
Target = Starting balance × (1 + r)^n + Monthly deposit × ((1 + r)^n − 1) / r; at r = 0, Target = Starting balance + n × DepositExample Scenarios
Save for a Down Payment
To save $20,000 for a house down payment in 3 years with $3,000 already saved and a 4.5% APY account, you'd need to contribute roughly $460/month.
Start Earlier, Save Less
Saving the same $20,000 over 5 years instead of 3 years drops the required monthly payment to about $250/month — nearly half — illustrating why starting early matters.
Sources & calculation notes
Maintained by MoneyCalc. Results are estimates based on the inputs and assumptions shown, not personalized financial advice or a lender quote. Default rates are examples unless a specific tax year or official table is identified.
References explain the underlying concepts or rules. They do not endorse or independently certify this implementation.
Calculations run in your browser. Some tools retain settings on this device. Displayed rounding can produce small differences from a statement or contract.