Savings Goal Calculator
Know your target but not the monthly habit to get there? Enter your goal, how much you've already saved, an expected return, and a time frame — this shows the exact monthly amount you need.
Savings Goal Calculator
Save per month
$644
You contribute
$77,279
From growth
$22,721
Assumes monthly compounding at the return shown. Estimates only — markets fluctuate.
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How it works
The calculator solves the compound-growth formula for the monthly payment: it accounts for your starting balance compounding over time, then finds the fixed deposit that fills the remaining gap to your goal. Bigger returns and longer time frames both lower the monthly amount you need — time does a lot of the work for you.
How much to save each month for common goals
Starting from $0, assuming a 5% return (7% for the 30-year goal), compounded monthly:
| Goal | Time frame | Save per month |
|---|---|---|
| $10,000 | 5 years | ~$147 |
| $50,000 | 10 years | ~$322 |
| $100,000 | 20 years | ~$243 |
| $1,000,000 | 30 years (7%) | ~$820 |
Frequently asked questions
How much should I save each month?
It depends on your goal, your time frame, and the return you earn. This calculator works backward from the target: it finds the fixed monthly amount that, combined with your starting balance and compound growth, reaches your goal by the end date.
What return should I assume for savings?
For short-term goals (1–3 years), use a safe rate like a high-yield savings account (~4–5%) because you can't risk a market drop. For long-term goals (10+ years), a diversified portfolio is often modeled at 6–7%.
Should I count my current savings?
Yes. Enter what you've already saved in the 'Already saved' field — it grows along with your monthly contributions, which lowers how much you need to add each month.
What if I can't save the amount it shows?
You have three levers: extend the time frame, lower the goal, or (for long-term goals) invest for a higher expected return instead of holding cash. Time is usually the most powerful — pushing a goal out a few years can cut the required monthly amount substantially.
Should I use a savings account or invest to reach my goal?
For goals under about 3 years, keep the money in a high-yield savings account or CD so a market drop can't derail you. For goals 10+ years out, a diversified investment account has historically grown faster, though with volatility along the way.