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Savings Goal Calculator

Updated January 2026

A savings calculator helps you work backward from your financial goals to figure out exactly how much to save each month. Whether you're building an emergency fund or planning a major purchase, knowing your required monthly savings makes any goal achievable.

How to Use This Calculator

Enter your savings goal (the total amount you want to accumulate), your current savings balance, the expected annual return on your savings, and the number of years until you need the money. The calculator will tell you exactly how much to save each month to reach your goal, factoring in growth from your existing balance.

How It's Calculated

This calculator solves the annuity formula for the payment amount needed to reach a target future value:

PMT = (FV − P × (1+r/n)^(n×t)) × (r/n) / [ (1+r/n)^(n×t) − 1 ]

Where FV is your savings goal, P is your current savings, r is the annual return rate, n is the number of savings periods per year, and t is the time in years.

Frequently Asked Questions

This depends on your target amount, time horizon, and expected return rate. For a short-term goal like a $10,000 vacation fund in 2 years, you'd need to save about $400 per month in a high-yield savings account. For a long-term goal like $100,000 for a down payment in 7 years, you'd need about $1,050 per month assuming 4% returns. Use this calculator to find your specific monthly savings target.
Most financial experts recommend an emergency fund of 3 to 6 months of essential living expenses. If you have stable employment and good insurance, aim for 3 months. If your income is variable or you're self-employed, target 6 months or more. For someone with $4,000 in monthly expenses, that means $12,000 to $24,000. A single person might need less; a family with a mortgage and kids should lean toward the higher end.
A common rule of thumb is to save 15% of your pre-tax income for retirement, including any employer match. If you start at age 25, saving 15% consistently should replace about 80% of your pre-retirement income. If you start later, you'll need to save a higher percentage. Use this calculator to set a monthly savings target that fits your timeline and retirement goals.
For short-term goals (under 3 years), use a high-yield savings account or money market account — your money stays safe and accessible while earning competitive interest. For medium-term goals (3–7 years), consider CDs or conservative investment portfolios. For long-term goals (7+ years), invested accounts like Roth IRAs or taxable brokerage accounts offer the best growth potential through compound returns.

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