Savings Goal Calculator
Fill in the values and the answer updates as you type.
How the Savings Goal Calculator works
Solves the compound interest formula for the monthly deposit, assuming monthly compounding and a constant return.
Inputs and results
The Savings Goal Calculator takes 4 inputs and gives 2 results.
What you enter
- Savings goal ($) — starts at 20000.
- Current savings ($) — starts at 2000.
- Annual return (%) — starts at 4.
- Time (years) — starts at 5.
What you get
- Monthly deposit needed
- Total you deposit
Example: Savings Goal Calculator with the starting values
With savings goal 20000 $, current savings 2000 $, annual return 4 % and time 5 years, the calculator returns:
| Monthly deposit needed | $264.83 |
|---|---|
| Total you deposit | $17,889.84 |
Change any value above and the results update straight away.
Savings Goal Calculator FAQ
How do I use the Savings Goal Calculator?
Enter savings goal, current savings, annual return and time in the fields, then read monthly deposit needed and total you deposit in the result panel. The answer updates as you type, and you can press Calculate or Enter to refresh it. Use “Copy link” to share your exact numbers with someone else.
What does the Savings Goal Calculator calculate?
How much to save each month to reach a goal. It returns monthly deposit needed and total you deposit from the 4 values you provide.
What values does the Savings Goal Calculator start with?
It opens with savings goal 20000 $, current savings 2000 $, annual return 4 % and time 5 years so you can see a working result straight away. Replace them with your own numbers, or press Reset to return to these starting values.
Is the Savings Goal Calculator free and private?
Yes. It is free, needs no account, and runs in your browser, so nothing you type is sent to or stored on our servers. See the Privacy Policy for details.
Can I rely on the Savings Goal Calculator for financial decisions?
Treat the result as a well-rounded estimate. Real situations often have details a general calculator cannot know, so confirm financial decisions with a qualified professional. See the Disclaimer for more.