Savings goal calculator
How much to save each month to reach your goal.
- Instant
- Free
- Private (processed locally)
- No sign-up
From goal to automatic transfer
A savings goal without a plan is just a wish. Enter the target amount, your current savings, the horizon and the rate: the tool returns the exact monthly deposit — the one to schedule as an automatic transfer the day after payday.
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Set the goal
House down payment (often 10% of the price), car, world trip, a 3-6 month emergency fund…
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Tune horizon and rate
The sliders show live how each extra year lightens the monthly amount.
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Automate
Schedule a transfer of the computed amount: the savings that require no willpower are the ones that succeed.
Common goal benchmarks
| Goal | Typical amount | Over 5 years at 3% |
|---|---|---|
| Emergency fund | $5,000 | ≈ $77/month |
| Used car | $12,000 | ≈ $186/month |
| House down payment | $30,000 | ≈ $464/month |
| Sabbatical year | $20,000 | ≈ $309/month |
Pro priority: emergency fund first (3-6 months of expenses, instantly available), then horizon goals. And every raise is a chance to bump the transfer before you get used to the surplus.
Frequently asked questions
How is the monthly deposit computed?
The tool first grows your starting savings at the given rate, then computes the payment that fills the remaining gap using the annuity formula: payment = gap × i ÷ ((1+i)ⁿ − 1), where i is the monthly rate and n the number of months. At zero rate it is a simple division.
Which rate should I enter?
Your account’s net annual rate: a regulated savings account (2-3%), a fixed-income fund, or 0% for a checking account. For stock investments the result is indicative only — returns are not guaranteed.
Does interest really change the picture?
On a short horizon (1-2 years), barely. Over 10 years, a lot: for $20,000 at 3%, interest covers about 13% of the goal — that many fewer deposits. That is the compound interest snowball.
Is it better to extend the horizon or raise the deposit?
Extending the horizon cuts the payment more than proportionally, thanks to interest. Play with the years slider: going from 5 to 7 years often cuts the monthly amount by a third.