Savings Goal Calculator
Find out how much you need to save each month to reach a financial goal.
About this tool
Working backward from a goal is one of the most effective ways to plan your finances. Instead of asking what your savings might become, this calculator asks what it will take, each month, to hit a specific target by a specific date.
The calculation accounts for interest earned along the way, so the required monthly amount is usually lower than simple division would suggest. A house down payment, an emergency fund, or a large purchase all become concrete monthly numbers you can budget around.
Frequently asked questions
What rate should I use?
Use the rate of the account where the money will sit. High yield savings accounts are a reasonable benchmark for short term goals; diversified investments may earn more but carry risk.
What if the result is negative?
A negative or zero monthly amount means your current savings will grow past the goal on their own within the timeframe.