Savings Goal Calculator
Enter what you're saving for. See how long it'll take at an amount you choose, or how much to save each month to hit a deadline, with interest if your savings earn any.
Leave at 0 for a regular account. A high-yield savings account might pay 3-5%.
How this is calculated
Both modes use the same compound-interest maths, applied once per month: your balance grows by your interest rate, then that month's contribution is added.
- How long will it take: starting from what you've already saved, it adds a month of growth and your contribution, over and over, and counts the months until the total reaches your goal.
- How much to save each month: it works out what your starting balance alone would grow to by your deadline, subtracts that from your goal, then spreads what's left across the remaining months, accounting for interest on those contributions too.
A worked example
Saving $300 a month toward a $10,000 goal, starting from $0, with no interest, takes 34 months (about 2 years 10 months): 33 months of $300 is $9,900, and the 34th contribution finishes the goal. At 4% annual interest, the same $300 a month gets there in 32 months, because interest covers part of the last two months' worth.
Frequently asked
Does this account for taxes on interest?
No. Interest shown is before any tax on interest income, which varies by country and account type. Treat the interest figures as an estimate.
What if I can't reach my goal without saving something?
If your monthly amount is $0 (or too small) and you haven't already saved enough, the calculator will tell you it isn't reachable that way. Increase the monthly amount, add a starting balance, or extend your deadline.
Is this financial advice?
No. It's a planning estimate based on the numbers you enter. See our terms.