Savings Goal Calculator

Work out the monthly amount you need to save to hit a savings goal, how long an existing plan takes, or the balance your contributions will grow to with compound interest.

Need help with the calculation?

Pick a starting scenario

What do you want the calculator to work out?

Savings goal amount The total amount you are saving toward. Current savings What you have already set aside for this goal today.

Timeframe (years) How many years from now you want to reach the goal.

Expected annual return (%) Yearly growth rate of the account. Use 0 for a plain savings account with no growth.

Advanced: currency symbol

Currency symbol Used for display only. Change it to your own currency.

Monthly amount you need to save

Enter your goal to see a result.

Total you deposit0

Interest earned0

Final balance0

How the balance grows over time

Money you deposit Interest earned Savings goal

The lower band is the cash you put in yourself; the green band on top is growth from compound interest. Where the curve meets the dashed line, the goal is reached.

Year-by-year milestones

End of year	You have deposited	Interest earned	Balance

Each row shows the balance at the end of that year, split into your own deposits and the interest earned on top.

For beginners: how to read this result

Compounding does the heavy liftingInterest is added every month, then the next month earns interest on that bigger balance too. Over many years the interest band can rival the deposits band.

Time matters more than amountStarting earlier gives each deposit more months to compound. A longer timeframe usually cuts the monthly amount you need far more than a higher return does.

The three modes solve for different unknownsPick the mode for the number you do not know yet: the monthly deposit, the time it takes, or the final balance. The unused input disappears.

Returns are not guaranteedThe growth rate is an assumption. Real accounts and investments rise and fall, so treat the projection as a plan, not a promise.

This is an estimate based on the figures you enter and assumes one level monthly deposit and a constant annual return. It does not account for inflation, tax on interest or gains, account fees, withdrawal penalties or one-off deposits. Real returns vary year to year, so use the result as a planning guide rather than a guarantee.

To get a result, choose one of the preset scenarios or enter your own figures, then pick the mode for the number you do not yet know. The mode toggle changes which input appears and what the headline answers.

The three modes

Monthly amount needed — you enter the goal amount, your current savings, a timeframe in years and an expected annual return. The calculator returns the level monthly contribution that reaches the goal on time. The monthly-contribution field is hidden in this mode.
Time to reach goal — you enter the goal, current savings, a monthly contribution and the return. The calculator returns how many months and years until the balance first reaches the goal. The timeframe field is hidden in this mode.
Projected balance — you enter current savings, a monthly contribution, a timeframe and the return. The calculator returns the final balance and, if you set an optional goal, whether the plan clears it.

How the math works

The calculator uses monthly compounding. The monthly growth rate equals the annual return divided by 12 and by 100. Each month the running balance is multiplied by one plus that monthly rate, and your monthly contribution is added on top. Repeating this month by month grows the balance, splitting it into the money you have deposited yourself and the interest earned on it. To find the monthly amount needed, the future value of your current savings is subtracted from the goal, and the remaining gap is divided by the future-value-of-an-annuity factor, which is one plus the monthly rate raised to the number of months, minus one, divided by the monthly rate. To find the time to a goal, the balance is stepped forward month by month until it first reaches the target.

The balance-growth chart and milestone table

The area chart shows the balance climbing over time. The lower band is the cash you deposit yourself; the green band on top is growth from compound interest, which widens the longer the plan runs. A dashed line marks the goal, so you can see the month the curve crosses it. The year-by-year table lists the same figures as exact numbers for every year of the plan.

What is not included

This is an estimate. It assumes one level monthly deposit and a single constant annual return. It does not adjust for inflation, so the result is in nominal money rather than future purchasing power, and it does not account for tax on interest or gains, account fees, withdrawal penalties or one-off lump-sum deposits. Real returns rise and fall from year to year, so treat the projection as a planning guide and confirm the terms of your own account before relying on the figures.