Savings goal calculator

Find the monthly amount that gets you to your goal on time. Free, private, runs in your browser.

How it works

Monthly rate i = annual rate ÷ 12. Your current savings grow to C × (1 + i)m.

Monthly saving = (Goal − C × (1 + i)m) × i ÷ ((1 + i)m − 1), or (Goal − C) ÷ months at 0%.

Example: $10,000 in 10 months at 0% with nothing saved → $1,000 a month.

Learn more

Mortgage amortization and the power of extra paymentsHow mortgage amortization works, the monthly payment formula, a year-by-year schedule for a $300,000 loan at 6.5%, and how $100, $200 or $500 extra a month changes payoff time and interest.

FAQ

Should I include interest?

If your savings earn interest, yes. If unsure, use 0% for a conservative number.

Is this before or after tax?

Interest here is before tax. Use a slightly lower rate to account for tax.

What if I already reached the goal?

The calculator tells you when your current savings (plus interest) already cover it.

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