Savings Goal Calculator
Plan your savings to reach financial goals
Calculator
How to Use
Plan your savings to reach financial goals
Enter goal amount
Input your target savings amount
Set target date
Choose when you want to reach your goal
Enter current savings
Input any existing savings toward this goal
Get savings plan
See required monthly contribution and progress timeline
Monthly Savings Formula
Monthly Savings = (Goal - Current) / Months With interest: FV = PMT × [((1+r)^n - 1) / r]
For simple calculation, divide remaining amount by months. For compound growth, use future value of annuity formula.
Frequently Asked Questions
Monthly Savings = Goal Amount / [(1+r)^n - 1] × r, where r = monthly return rate, n = months. For $10,000 in 2 years with 5% annual return: ~$397/month. Without returns, simply divide goal by months: $417/month.
The 50/30/20 rule suggests saving 20% of income. Aggressive savers target 30-50%. Start with what you can afford and increase gradually. Even 10% is better than nothing. Automate savings to stay consistent.
Save in high-yield savings accounts for goals under 2 years (emergency fund, vacation). Invest in diversified funds for goals 5+ years away (retirement, house). 2-5 year goals can use a mix of bonds and conservative investments.
3-6 months of expenses is standard. Self-employed or single-income households should aim for 6-12 months. Keep emergency funds in easily accessible accounts like high-yield savings, not invested in stocks.