Savings Goal Calculator
Find out how much you need to save daily, weekly, monthly or yearly to reach a savings goal by a target date.
How this calculator works
- Enter your goal amount and how much you've already saved toward it.
- Pick your target date.
- Optionally enter an annual interest rate your savings will earn along the way.
- The calculator shows how much to save per day, week, month and year to hit your goal on time.
Instead of projecting a balance forward, this calculator works backward from a goal: given a target amount and a date, it tells you the savings rate you need to hit it. Add an optional interest rate for a more realistic (usually slightly lower) required contribution.
Example
Saving for a $6,000 goal with $500 already saved, 24 months away, and no interest: you need to save ($6,000 − $500) ÷ 24 ≈ $229 per month, or about $53 per week.
Limitations
With an interest rate entered, the required monthly contribution assumes consistent monthly compounding and steady contributions — real-world timing and rate changes will shift the actual amount needed.
Frequently asked questions
How is the required monthly savings amount calculated?
Without interest, it's simply (goal − current savings) ÷ number of months remaining. With interest, we account for the growth your existing and future savings will earn, which slightly lowers the required contribution.
What if I'm already past my target date?
Set a future date — the calculator needs at least one month remaining to compute a rate.
Should I include interest?
If your savings sit in an interest-bearing account, including even a conservative rate gives a more accurate (usually smaller) required contribution.
Can I use this for a house down payment or emergency fund?
Yes — it works for any lump-sum savings goal with a target date, from a vacation to a down payment.