Know exactly how much to save each month to hit your goal.
Goal Parameters
Results
Timeframe
60 mo
5 yrs
Your Contributions
$21,792.30
money deposited
Interest Earned
$3,207.70
free growth
Starting Balance
$2,000.00
→ $2,566.72 with interest
How the goal is funded
Balance Over Time
Disclaimer: This calculator assumes a fixed monthly deposit and constant interest rate. It does not account for taxes, fees, inflation, or variable returns. Consult a qualified financial advisor before making investment decisions.
The Savings Goal Calculator tells you exactly how much to deposit each month to reach any financial goal — a house down payment, emergency fund, vacation, or car — by a specific date. Enter your goal amount, current savings, target date, and expected annual interest rate to get your personalized monthly savings plan with a full compound-interest breakdown.
The calculator uses the future-value-of-annuity formula. It first projects your existing savings forward with compound interest, subtracts that from your goal, then solves for the equal monthly deposit (PMT) that — growing at your chosen rate — bridges the gap by your target date.
Use the expected annual return for wherever you plan to keep the money. High-yield savings accounts currently offer around 4–5%, while a diversified stock index fund has historically averaged 7–10% annually (though returns are not guaranteed). For guaranteed savings, use your account's current APY.
No. The tool shows nominal (pre-tax) growth. In practice, interest in a standard savings account is taxable, and inflation erodes purchasing power. For a tax-advantaged account like a Roth IRA or 529, your real growth may be closer to the figure shown.
If your current savings — grown by compound interest over the timeframe — will reach the goal on their own, the calculator shows that no monthly deposits are needed. You can reduce your target date or increase the goal to see a non-zero deposit requirement.