Savings Goal Calculator
Find out how much to save each month to reach your goal by a specific date, with optional interest.
How to use it
Enter the amount you want to save, the date you start saving, and the date you want to reach your goal. If your savings earn interest, enter the annual rate as a percentage (for example, 4 for 4%). The tool updates the results as you type.
How the calculation works
The tool counts the whole months between your start date and target date. With no interest, it divides your goal by the number of months. With interest, it uses the future value of a monthly annuity: monthly payment = goal ÷ [((1 + monthly rate)^months − 1) ÷ monthly rate], where the monthly rate is the annual rate divided by 12. Interest earned is the total of all payments minus the goal.
FAQ
Is my data saved? No. Everything runs in your browser, and nothing is sent to a server or stored.
What if I enter a target date before the start date? The tool shows a dash for the results and asks you to check your dates.
Does the interest compound monthly? Yes. The annual rate is divided by 12 and applied each month.
Can I use this for a loan? No. This tool is for saving toward a goal, not for borrowing money.
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