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Savings Goal Calculator

Calculate how much to save monthly or how long to reach your savings goal

Quick presets

Inputs

$
$

Format: 1,234

Maximum 600 months (50 years)

%

Advanced options

%

Increase your monthly savings each year

%

Show purchasing power in today's dollars

Results

Monthly payment required$ 0.00
Total contributions$ 0.00
Final balance$ 0.00

How to Use the Savings Goal Calculator

This savings calculator helps you plan how to reach your financial goals. Whether you're saving for an emergency fund, a vacation, a down payment, or any other objective, you can calculate either the monthly payment needed or the time required to reach your target.

To use the tool:

  1. Select your calculation mode: monthly payment or time to goal
  2. Enter your target savings amount and any current savings
  3. Set your target duration (for monthly payment mode) or monthly contribution (for time mode)
  4. Add an expected return rate if you plan to invest your savings
  5. Enable advanced options for annual increase or inflation adjustment
  6. Create additional scenarios with the '+ New Scenario' button to compare strategies

Tip: Even a modest return rate (4-5%) can significantly reduce the monthly payment needed or the time to reach your goal thanks to compound interest.

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Frequently Asked Questions

This calculator uses financial formulas to determine either the monthly payment needed to reach a savings goal by a specific date, or how long it will take to reach a goal with a fixed monthly contribution. It accounts for initial savings, investment returns, and annual increases in contributions.