Whether you’re saving for a down payment, a car, a wedding or an emergency fund, this calculator turns your goal into a monthly number.
Savings Goal Calculator
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Choose a target date to see how much to save each month, or enter what you can afford to see when you’ll get there. Interest from a high-yield savings account is included.
Tips to reach your goal faster
- Automate it. Schedule a transfer for payday so the money moves before you can spend it.
- Earn more interest. A high-yield savings account paying around 4% APY grows your money far faster than a 0.38% national-average account.
- Use windfalls. Tax refunds, bonuses and cash gifts can cut months off your timeline.
- Match the account to the timeline. Money you need within a few years belongs in FDIC-insured savings or CDs, not stocks.
Frequently asked questions
How is the monthly amount calculated?
The calculator grows your current savings at your APY, then finds the monthly deposit that closes the gap by your target date, assuming deposits at the end of each month.
Should I save for several goals at once?
Yes. Many people keep separate savings buckets for each goal. Run the calculator once per goal and add up the monthly amounts to see if they fit your budget.
Related: Best High-Yield Savings Accounts, Emergency Fund Calculator, How to Save Money.
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