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Budget & Income

Savings Goal Calculator

Know your target and your deadline? This calculator tells you exactly how much to set aside each month to get there — with interest doing part of the work.

Your goal

Set a target and a deadline — we’ll find the monthly amount that gets you there.

years
%

High-yield savings ~4%

What it takes

Save this each month

$397.25

to reach $30,000 in 5 years

You’ll contribute

$23,835

Interest earned

$3,165

Projected total

$30,000

Interest does part of the work: the higher your rate, the less you need to set aside. A high-yield savings account or, for longer goals, low-cost investments can shrink the monthly amount.

Turn a goal into a monthly number

A goal without a monthly plan tends to stay a wish. Enter your target and deadline and this tool converts it into a single, doable number: how much to move into savings each month. It even credits the interest your balance earns, so the amount is a little easier than dividing evenly.

Example

To reach $30,000 in five years starting from $3,000, earning 4% in a high-yield account, you'd save around $400 a month — and interest covers roughly $2,500 of the goal for you.

Make it automatic

Set up an automatic transfer for the monthly amount the day after payday, so saving happens before spending. Building an emergency cushion first? Size it with the emergency fund calculator. For long-term goals, compare growth with the compound interest calculator.

Related calculators

Emergency Fund CalculatorHow big a cushion you need and how fast you can build it.Compound Interest CalculatorWatch a lump sum and monthly deposits snowball over the years.Budget CalculatorSplit your take-home pay across needs, wants, and savings.50/30/20 Budget CalculatorThe simplest budget rule: 50% needs, 30% wants, 20% savings and debt.

Frequently asked questions

How much should I save each month to reach my goal?
It depends on your target, your timeline, what you’ve already saved, and the interest you earn. Enter those above and the calculator solves for the exact monthly deposit — accounting for the interest your balance earns along the way.
What interest rate should I use?
For a goal within a few years, use a high-yield savings account rate (recently around 4%–5%). For goals more than five years out, some people use a conservative investment return, but that carries market risk.
What are good short-term savings goals?
An emergency fund, a car down payment, a home down payment, a wedding, or a vacation. Anything with a fixed dollar target and a deadline fits this calculator.