Savings goal calculator
Reverse-engineer the monthly deposit you need to hit any savings target. Factor in your current balance and expected interest rate.
What is a savings goal calculator?
A savings goal calculator inverts the future-value formula: instead of asking "what will I have," it asks "what monthly habit do I need" to hit a target by a specific date. It's the planning tool that actually changes behavior — because it gives you a number to commit to.
The full breakdown.
| Year | Deposits | Interest | Balance | Interest share |
|---|---|---|---|---|
| Y01 | $11,000 | $355 | $11,355 | 3% |
| Y02 | $17,000 | $1,002 | $18,002 | 6% |
| Y03 | $23,000 | $1,954 | $24,954 | 8% |
| Y04 | $29,000 | $3,226 | $32,226 | 10% |
| Y05 | $35,000 | $4,832 | $39,832 | 12% |
| Y06 | $41,000 | $6,787 | $47,787 | 14% |
| Y07 | $47,000 | $9,108 | $56,108 | 16% |
| Y08 | $53,000 | $11,810 | $64,810 | 18% |
The required-deposit formula that works backwards from your goal.
Standard savings calculators show you how much you'll have given a deposit. This calculator inverts the problem — you tell it your target and timeline, and it tells you the exact monthly deposit required, accounting for interest earned along the way.
Because interest compounds on your growing balance each month, the required deposit is slightly lower than simply dividing the gap by the number of months. The bigger the interest rate or the longer the timeline, the more pronounced this effect.
- PMT
- Monthly deposit — the amount you need to save each period
- FV
- Future value — your savings target (goal amount minus current balance)
- r
- Monthly rate — annual APY divided by 12
- n
- Total periods — years to goal multiplied by 12
Six ways to actually use these numbers.
Park it in a HYSA.
At 4-5% APY (top high-yield savings in 2026), a $20K balance earns ~$80/mo just sitting there. See our rates table for current top accounts.
Automate the transfer.
Set the monthly amount to auto-debit on payday. Friction is the enemy of consistency.
Two accounts for two goals.
Mixing an emergency fund with a vacation pot leads to spending the wrong dollars. Separate accounts, separate names.
Recalc every 6 months.
Income changed? Rate dropped? Goal date moved? Re-run the calculator quarterly to keep your monthly number honest.
Round up to a nice number.
If the math says $742/mo, save $800. The buffer absorbs slippage and builds finishing momentum.
Add a 10% buffer for cars and weddings.
Goal amounts always understate. Build a 5-15% buffer into the target before calculating — easier to overshoot than to come up short.