Savings Goal Calculator

A house deposit, a wedding, a car, a dream trip - every goal becomes achievable once it is translated into a monthly number. Tell this calculator the target amount, your deadline, what you have already saved and the interest rate your savings earn, and it returns the exact monthly deposit required - with interest doing part of the work for you.

Your numbers

$
$
yrs
%
Save this each month —
—
Total you'll deposit—
Growth does the rest—
Current savingsNew depositsGrowth

Results update as you type and are estimates for education only — they don't account for taxes, fees or your personal situation, and nothing here is financial advice. Your inputs stay on this device.

How it works

  1. Enter your savings goal - the total amount you need.
  2. Set your deadline in years (and months) from today.
  3. Add anything already saved toward the goal and the annual interest rate (APY) of the account it sits in.
  4. Read the required monthly deposit and how much of the goal interest will cover.

The formula

Required monthly deposit = (FV - P(1 + i)^n) x i / ((1 + i)^n - 1), where FV is the goal, P existing savings, i the monthly interest rate and n the months remaining. With a 0% rate it simplifies to (goal - saved) / months.

Frequently asked questions

Where should I keep money for a short-term goal?
For goals under roughly five years, prioritize safety and liquidity: high-yield savings accounts, money-market funds or short-term government-backed instruments. Stock-market volatility can easily wipe 20-30% off a balance right when you need it, so equities suit long horizons, not next year's house deposit.
What if the required monthly amount is more than I can afford?
You have three honest levers: extend the deadline, reduce the target, or increase income/cut expenses to free up cash. Even a small automated deposit is worth starting today - consistency compounds, and you can raise the amount later.
Does the calculator account for inflation in the goal?
No - it treats the target as a fixed nominal amount. For goals several years out whose price will rise (education, property), inflate the target first with our Inflation Calculator, then plan toward that adjusted figure.
Keep planning

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