Savings Goal Calculator

Most savings advice fails because the target is a vague ambition rather than a monthly number. Enter what you want, when you want it, and what you already have, and this calculator returns the exact monthly contribution required — including whatever your savings interest contributes on your behalf.

How to use it

1. Enter your goal amount and the amount you have saved already.
2. Enter how many months you have until you need the money.
3. Add the annual interest rate your savings account pays, if any.
4. Check whether the required monthly amount fits your budget; if not, extend the deadline or lower the target.

Frequently asked questions

Should I include interest for a short-term goal?

Barely worth it. Over 12 months at 4%, interest covers a small fraction of the goal. For horizons beyond three years it starts to matter meaningfully.

What if the required monthly amount is unaffordable?

You have three levers: extend the timeline, reduce the target, or increase income. Extending the timeline is usually the least painful and has the largest effect.

Where should short-term savings sit?

Money needed within a few years generally belongs in cash or a high-interest savings account rather than invested, because a market fall right before the deadline cannot be waited out.

Does it account for inflation?

No. If the goal is several years away and priced in today’s money — a car, a wedding — consider raising the target by a few percent per year.

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