Savings
Savings Goal Calculator
Estimate the monthly deposits needed to reach a savings target. Adjust the example inputs to explore how different assumptions affect the estimate.
Your scenario
Adjust the numbers
Start with the example values or enter your own assumptions.
Based on your inputs
Your estimate
Educational estimate only. Actual terms, taxes, fees, and returns may differ.
How to use this calculator
Enter a target balance, current savings, annual rate assumption, and a whole-month deadline.
How the calculation works
Required deposit = (target − current balance grown to the deadline) ÷ the future-value factor for monthly deposits. Deposits are modeled at month end.
Worked example
With a 0% assumed rate, a $1,200 goal and no current savings over 12 months requires $100 per month.
Assumptions and limitations
Assumes a constant rate with monthly compounding and end-of-month deposits. If current savings already grow beyond the target, the required deposit is zero. Rates, fees, and contribution timing can change real outcomes.
Frequently asked questions
What if I already have enough saved?
The required additional monthly deposit is zero when the modeled initial balance reaches the goal.
Does it account for changing rates?
No. It holds the entered annual rate constant.
Sources and further reading
Learn more
- How to Reach a Savings Goal With Monthly Deposits →
- How Much Should You Save for an Emergency Fund? →
- How to Calculate Compound Interest →
- How Much to Save From Each Paycheck for a Goal →
- How Monthly Savings Deposits Grow With Compound Interest →
- How to Save for Annual Bills With a Sinking Fund →
- How to Calculate a Monthly Savings Contribution →
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Educational tool only. It does not provide personalized financial, tax, or legal advice.