Savings Goal Calculator
Set a target, say how much you have saved already and how long you have. The calculator shows the monthly deposit you need, including the interest your account earns.
Last updated: October 2026How it works
How the monthly deposit is found
First your existing savings grow at the monthly rate. The gap between that and your goal is then spread over the months using the future value of an annuity: deposit = gap × r ÷ ((1+r)ⁿ − 1), where r is the monthly rate and n is the number of months.
Worked example
To reach $20,000 in 3 years with $2,000 already saved and an account paying 4.5% APY, you would deposit about $460 a month.
Frequently asked questions
How much should I save each month to reach my goal?
Enter the goal, what you have saved and the time you have. The calculator returns the monthly deposit that gets you there at the interest rate you entered.
What APY should I use?
Use the APY your account pays today. High-yield savings accounts often pay more than traditional ones, but rates change, so use a conservative number.
How much emergency savings do I need?
A common guideline is three to six months of essential expenses. Use your monthly needs from the budget planner to set that target.
Does this include taxes on interest?
No. Interest earned in a regular savings account is generally taxable income. The result shows pre-tax figures.