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How much to save each month
Turn a goal and deadline into a recurring contribution.
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Free savings planner
Savings goal calculator
Turn a target into a practical saving plan. Calculate the recurring amount needed by a deadline, or estimate when your current plan could reach the goal.
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Build your plan
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Your savings plan
Starting savings
Planned deposits
Estimated interest
Projected balance
Starting savingsDepositsInterest
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Savings milestones
Values use a fixed APY and are rounded for display.
| Milestone | Balance | Deposits added | Interest |
|---|
Understand the plan
How the savings goal calculation works
The APY is converted to an effective rate for your saving frequency using (1 + APY)^(1 / periods per year) - 1. For a deadline plan, the calculator grows your current savings to that deadline and solves the future-value-of-an-annuity formula backwards for the recurring deposit. The amount is rounded up to the nearest cent so rounding does not leave the plan below the goal.
For a time-to-goal plan, it finds the first saving period whose projected balance meets or exceeds the goal. Beginning-of-period deposits receive one additional period of assumed interest. The model uses equal periods rather than exact calendar dates.
The estimate assumes a constant APY and deposit amount. It excludes changing rates, fees, taxes, withdrawals, inflation, minimum-balance rules, and bank-specific rounding. It is an educational scenario, not financial advice or a guarantee.
Compare the goal-focused approach with the Investor.gov Savings Goal Calculator. To project an amount without solving for a goal, use our compound interest calculator.
Worked example
Turn a $10,000 goal into a monthly plan
Choose a $10,000 goal, $0 already saved, 0% APY, and a one-year monthly deadline. Dividing the gap across 12 deposits gives $833.333…, so the calculator rounds the recurring amount up to $833.34.
Try this example in the calculatorCommon questions
Frequently asked questions
How much should I save each month?
The answer depends on the target, current savings, deadline, assumed APY, and deposit timing. The calculator solves those assumptions for the recurring amount.
Can I calculate how long a goal will take?
Yes. Choose Time to goal and enter the amount you can save each period.
Why is the required contribution rounded up?
It is rounded up to the nearest cent so the displayed deposits do not leave the plan just below the target because of rounding.
What if my savings rate changes?
Run separate scenarios. This model assumes one fixed APY for the entire period.
Does this calculator account for inflation or taxes?
No. It excludes inflation, taxes, fees, withdrawals, and changing rates.