Compound interest
See how a starting amount, regular deposits, and time could grow your money.
Saving & investingSaving & investing
Savings goal calculator
Big dream. Small monthly steps.
Your numbers
Work backward from a goal to the monthly amount that could get you there.
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THE MATH, WITHOUT THE MYSTERY
What’s actually happening here?
A savings goal turns “I should save more” into a specific monthly number. Enter your target, what you already have, and your deadline.
We find the monthly rate from the annual effective return: i = (1 + r)^(1/12) − 1. Then we solve for equal end-of-month deposits. At a 0% return, divide the remaining gap by the number of months.
THE FORMULA
Monthly deposit = max(0, (Goal − P(1 + i)ⁿ) × i / ((1 + i)ⁿ − 1))
A small example
A goal of 6,000 in 12 months, with 1,200 already saved and no growth, needs (6,000 − 1,200) ÷ 12 = 400 per month.
Further reading
SEC Investor.gov · Savings goal calculatorGOOD QUESTIONS
A few things worth knowing.
What if I cannot save the suggested amount?
Try a later deadline, a smaller goal, or a larger starting balance. A higher assumed return is not a substitute for a realistic plan.
Is the target adjusted for inflation?
No. The target is a future nominal amount. The inflation calculator can help you estimate a future price first.