Home › Saving & Retirement › Savings Goal CalculatorSavings Goal Calculator — How Much to Save Monthly Work out the monthly deposit needed to reach a savings target by a deadline, with interest.
Formula PMT = (F − P×(1+i)^n) × i / ((1+i)^n − 1) — F: goal, P: current savings, i: monthly rate, n: months
Examples Input Result $25k goal, $5k saved, 4%, 5 yrs $285.00/month $10k goal, $0 saved, 2%, 2 yrs $408.74/month $50k goal, $20k saved, 5%, 10 yrs $109.86/month
Frequently Asked Questions What does the calculator return? The fixed monthly deposit needed so that your current savings plus deposits plus interest reach the goal on time.
What if I already have enough? If current savings alone will reach the goal, no monthly deposit is needed and the calculator says so.
Should I use a high return rate? Use a conservative rate — savings accounts currently pay 3–5%; investment returns are not guaranteed.
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Disclaimer: This calculator is for informational and educational purposes only and does not constitute financial, investment, tax or legal advice. Results are estimates — actual returns, rates and terms vary. Consult a qualified financial professional before making financial decisions.