Savings Goal Calculator
Figure out how much to save each month to reach your goal, or how long it will take at your current savings rate.
Time to Goal
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Total Contributed
$0
Interest Earned
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How to plan your savings goal.
This calculator determines how long it will take to reach your savings target based on your current balance, monthly contributions, and interest rate. It accounts for compound interest earned on your growing balance.
The key to reaching any savings goal is consistency. Even small monthly contributions add up significantly over time, especially when earning compound interest in a high-yield savings account.
Frequently asked questions.
Where should I keep my savings?
For goals under 5 years, a high-yield savings account or CD offers safety and decent returns (4–5% APY). For longer-term goals, consider a mix of savings and low-risk investments.
How much should I save each month?
The 50/30/20 rule suggests saving 20% of your after-tax income. Adjust based on your goals — saving for a house down payment may require 25–30% temporarily.