Savings Goal Calculator
Find out how much to save each month to reach a target by a chosen date, including any interest. It runs in your browser.
Also searched as: savings calculator · how much to save calculator · savings plan calculator
Updated November 9, 2026
Loading the tool…
How to use it
- 1
Set your goal
Enter the amount you want and anything you have already saved.
- 2
Add rate and time
Enter the interest rate and how many years you have.
- 3
See the monthly amount
The amount to put aside each month.
Questions about savings goal calculator
Does it include interest?
Yes. Interest on your savings reduces how much you need to add each month.
What if I have savings already?
Enter them as the starting amount and the target is adjusted.
Is my information sent anywhere?
No. It is worked out on your device.
How the monthly amount is worked out
The tool treats the interest rate as a yearly rate that compounds monthly, and it assumes you deposit at the end of each month. Any savings you already have keep growing, and the monthly deposit covers whatever is still missing at the end. The table shows the monthly deposit needed to reach 20,000 from nothing.
| Years | 0% a year | 2% a year | 4% a year | 6% a year |
|---|---|---|---|---|
| 1 | 1,666.67 | 1,651.44 | 1,636.33 | 1,621.33 |
| 2 | 833.33 | 817.47 | 801.83 | 786.41 |
| 3 | 555.56 | 539.52 | 523.81 | 508.44 |
| 5 | 333.33 | 317.22 | 301.66 | 286.66 |
Ways to reach the goal sooner
Time lowers the monthly amount more than a higher rate does. Over five years at 4%, the deposit falls to 301.66 a month, compared with 523.81 over three years. A head start helps as well: with 5,000 already saved, a three-year goal at 4% needs 376.19 a month instead of 523.81.
Real savings rates change, and some accounts pay interest on different schedules, so treat the result as a plan to check, not a promise. If your account pays no interest, enter 0 and the answer is simply the goal divided by the number of months.
Using the result in a plan
The tool gives one figure: how much to save each month. Setting it up as an automatic transfer on payday works well, because steady deposits are easier to keep up than irregular ones.
If your starting amount would already grow to the goal on its own within the time you chose, the result is 0, which means the goal is covered at that rate. For example, 19,000 already saved at 4% passes 20,000 within three years, so the answer is 0.00.
Interest is not guaranteed, tax on interest is not included, and prices can rise before you reach the goal. For a goal with a fixed price, such as a deposit on a home or a car, add a margin to the target, or check the monthly figure at a lower rate than you expect.