Calculyn

Savings Goal Calculator

Find out how much to save each month to reach a savings goal.

$
$
yrs
%

Results update as you type.

Save each month

$465/ month
Total you'll deposit
$16,754
Interest earned
$1,246
Save each month$465

Projections are hypothetical and not investment advice. Real returns vary year to year and can be negative.

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How it works

We grow what you've already saved at your interest rate, then work out the level monthly deposit that closes the gap by your deadline.

Formula

PMT = (Goal − S(1+r)ⁿ) × r ÷ ((1+r)ⁿ − 1)

Example

To reach $20,000 in 3 years with $2,000 saved at 4% APY, save about $456 a month.

Assumptions & limitations

  • A constant rate of return or inflation every year.
  • Excludes fees and taxes unless entered.
  • Contributions are made regularly and on time.

Frequently asked questions

How big should an emergency fund be?

A common guideline is 3–6 months of essential expenses.