Savings Goal Calculator
Find the monthly deposit needed to reach a savings target by a set date, given what you've already saved and an expected rate of return.
Como usar esta calculadora
- 1Enter your savings goal and how much you have already put aside.
- 2Enter how long you have to reach it.
- 3Enter an expected annual return — use 0% for a plain savings account, or a modest figure for invested money.
- 4Read the monthly deposit required, and its weekly equivalent.
Como funciona
Reaching a savings goal
grown balance = current × (1 + i)ⁿ still needed = goal − grown balance monthly deposit = still needed × i ÷ ((1 + i)ⁿ − 1) i = annual return ÷ 12, n = months
This is the future-value-of-an-annuity formula solved backward for the payment. Your current balance grows on its own to some figure by the target date; whatever gap remains has to be filled by regular deposits, each of which also grows for however long it sits invested. Dividing the shortfall by the growth factor of a stream of deposits gives the monthly amount. At a 0% return it is simply the shortfall divided by the number of months.
Exemplo resolvido
To reach $30,000 in 5 years with $5,000 already saved at a 4% return: the $5,000 grows to about $6,105, leaving roughly $23,895 to fund with deposits. That works out to about $360 a month — of which around $2,300 comes from investment growth rather than your own contributions.
Savings Goal Calculator: o guia completo
Working backward from the goal
Most savings maths runs forward: put in this much, end up with that. A goal calculator runs it backward, which is how people actually plan — you know the target and the deadline, and you need the monthly figure. The calculation first lets your existing balance grow on its own, then works out what regular deposits must add to close the remaining gap by the date.
Framing it this way makes a goal concrete. 'Save $30,000 in five years' is vague and easy to postpone; 'deposit $360 on the first of every month' is a specific instruction you can automate. Turning the target into a fixed monthly transfer, set up to happen automatically, is the single most effective savings habit there is.
How much the return matters — and when it doesn't
The expected return has a large effect over long horizons and a small one over short ones. Saving for a house deposit in three years, most of your money is your own deposits and the return adds little; saving for a goal fifteen years out, growth can supply half the total or more. The example above, over five years, splits roughly 90% deposits to 10% growth.
This shapes how you should hold the money. For a near-term goal, safety matters more than return — a market fall in the year you need the cash can wreck the plan, so cash or a high-interest savings account (and a 0% or low return assumption here) is prudent. For a distant goal, investing for growth is worth the volatility, and a higher return assumption is reasonable. Match the risk to the timeline.
Building in a margin
A plan that requires everything to go right usually doesn't survive contact with real life. Investment returns vary, income wobbles, and unexpected costs appear. The safest way to use a goal figure is to treat it as a floor and aim slightly above it — save a little more than the calculator says, or assume a slightly lower return, so that a bad year does not put the goal out of reach.
It also helps to revisit the number periodically rather than setting it once. If your investments have done better than assumed, you may be ahead and able to ease off; if worse, catching the shortfall early with a small increase is far less painful than discovering a large gap near the deadline. A goal is a direction, and steering as you go beats a single calculation at the start.
Perguntas frequentes
How much should I save each month to reach my goal?
It depends on the target, your timeline, what you've already saved, and your expected return. Enter those above and the calculator solves for the exact monthly deposit. As a rough guide with no return, it is simply the amount still needed divided by the number of months.
What return should I assume?
For a short-term goal held in cash or a savings account, use the account's rate or 0% to be safe. For a longer-term invested goal, 4–7% nominal is a common assumption for a diversified portfolio. Lower assumptions are safer because they don't rely on markets cooperating.
Should I invest or use a savings account for my goal?
It depends on the timeline. Money needed within a few years should stay safe in cash or a high-interest savings account, because a market drop could hit right when you need it. Money for a goal many years away can be invested for growth, accepting the short-term ups and downs.
Why is the growth so much smaller than in retirement examples?
Because time is short. Compound growth needs years to build, so over a five-year goal your own deposits dominate and returns add relatively little. The same monthly amount over twenty or thirty years would see growth overtake contributions entirely.