Savings Goal Calculator
Time to reach goal with monthly deposits + interest
How to Plan for a Savings Goal
Reaching a savings goal requires knowing how much to set aside regularly, accounting for compound growth on both your existing balance and future contributions. The calculator solves for the monthly deposit needed: you provide the target amount, timeline, expected annual return, and any starting balance, and it determines the required monthly savings.
For a $10,000 goal in 5 years at 5% annual return with no starting balance, you need to save approximately $147.05 per month. Your contributions total $8,823 over 60 months, while compound growth adds the remaining $1,177. Starting with existing savings reduces the monthly burden — $5,000 already saved toward a $50,000 goal over 10 years at 6% requires about $249.59/month instead of $304.55 from zero.
The expected return rate significantly affects required contributions. At 4% return, saving $100/month for 10 years builds $14,908. At 7%, the same contributions grow to $17,308 — a $2,400 difference from rate alone. Higher expected returns reduce required monthly savings but come with investment risk; using a conservative rate for planning is prudent.
Regular automatic transfers make saving effortless. Setting up a $150/month auto-deposit removes the temptation to skip months and leverages dollar-cost averaging in investment accounts. Even modest amounts compound meaningfully: $100/month at 5% for 10 years grows to $15,528 — nearly 30% more than the $12,000 you contributed.
Whether you are saving for a down payment, emergency fund, vacation, or major purchase, this calculator tells you exactly how much to save each month. Adjust the timeline, rate, or starting balance to explore different scenarios and find a plan that fits your budget.
Examples
| Example | Result |
|---|---|
| $10,000 goal, 5 years, 5%, $0 start | Save $147.05/month |
| $50,000 goal, 10 years, 6%, $5,000 start | Save $249.59/month |
| $100/month for 10 years at 5% | Grows to $15,528.23 |
| $5,000 goal, 3 years, 4%, $1,000 start | Save $101.43/month |
| $25,000 goal, 7 years, 5%, $0 start | Save $249.18/month |
| $200/month for 5 years at 4% | Grows to $13,259.80 |
| $100,000 goal, 20 years, 7%, $10,000 start | Save $114.44/month |
Frequently asked questions
It depends on your target, timeline, starting balance, and expected return. Enter these values and the calculator determines the required monthly deposit.
Use 4–5% for conservative savings or CDs, 6–7% for diversified stock portfolios over long periods. Lower rates produce safer estimates.
Yes. Compound growth rewards time. Saving $100/month at 5% for 10 years yields $15,528; for 20 years it grows to $41,103.