Savings Goal Calculator
A goal without a monthly number is a wish. Enter your target amount, current balance, deadline, and APY to see exactly what to deposit each month — interest included.
Your results
Charts & visualization
Path to your goal
The line reaches your target exactly at the deadline — deposits plus compounding working together.
Every chart’s underlying numbers are available as text — use the “view as table” control under each chart.
How it works
The calculator works in reverse: it grows your current balance forward at the stated APY, measures how much is still missing at the deadline, and solves the annuity formula for the monthly deposit that fills the gap precisely.
Interest does part of the work — visible as the difference between total deposits and the gap. Longer horizons shift that split dramatically toward interest; short deadlines make deposits do nearly everything.
Formula used
i— monthly yield = APY ÷ 12 ÷ 100n— months until your deadlineIf the gap is ≤ 0— your current balance already gets there — deposit $0
Example calculation
Reaching $25,000 from $4,000 within three years requires about $537 per month. Your deposits would total $19,320 while roughly $1,680 of the goal arrives as interest. Stretch the deadline to five years and the requirement falls sharply — deadlines move this number more than anything else.
Assumptions & limitations
- Deposits occur monthly and earn the stated APY throughout.
- The APY stays constant; real rates change with the market.
- Withdrawals along the way are not modeled.
- Taxes on interest are excluded.
Results are planning estimates based on your inputs and the stated assumptions — not financial advice or a loan offer. Verify important figures with your lender or advisor.
Frequently asked questions
How much should I save each month?
Common targets are 15%–20% of take-home income across all goals. For a specific purchase or emergency fund, let the deadline set the number here instead of guessing.
What APY should I assume?
Use your account’s actual APY; high-yield savings accounts have recently paid several times the national average of standard accounts. Being conservative costs little.
Should I save or invest extra money?
Money needed within about five years generally belongs in savings where principal is stable. Long-horizon money can tolerate investment risk for higher expected returns.
How do I reach a goal faster?
Three levers: raise the monthly deposit, extend the deadline, or earn better yield. Test combinations above — even small changes compound noticeably.