Savings Goal Calculator
Work out how much to save each month to hit a target amount by a deadline, factoring in interest and any money you already have.
Your numbers
- Total you contribute
- $44,405
- Interest earned
- $5,595
- Balance
- Goal
How the savings goal calculator works
We solve the future value of an annuity for the payment: PMT = (Goal − Start·(1+r)^n) · r / ((1+r)^n − 1) with monthly compounding.
Example
Using the default inputs (Savings goal: $50,000; Already saved: $5,000; Years to goal: 5; Annual interest rate: 4.25%), the calculator returns monthly savings needed of $657. Change any field above to see your own result and charts update instantly.
Good for these goals
Frequently asked questions
Where should I keep short-term savings?
High-yield savings accounts, money market accounts or CDs keep principal safe for goals under five years.
What if my goal is far off?
Longer horizons can justify investments, but add risk. Match the account to the timeline.
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Estimates are for educational purposes only and are not financial, tax or legal advice. Results depend on your inputs and simplified assumptions; tax figures reflect 2026 federal rules and may differ from your situation. See our disclaimer. © 2026 FinanzCalc.