Savings Goal Calculator
Saving for a house down payment, a car, a wedding, or just a number that makes you feel safe? Answer either question: how long will it take at my pace — or how much per month to hit my deadline?
Maintained by TheFinanceSection · Updated · Methods and corrections
Time to reach your goal
3.5 years
saving $400/mo at 4% APY
Still to save
$18,000
$2,000 of $20,000 saved (10%)
Share of take-home pay
10.0%
Compare this with money left after essential bills and known expenses.
Starting amounts are examples; replace them with yours. Assumes monthly compounding at the stated APY with deposits at the end of each month. APY is an illustrative assumption, not a current offer. Actual rates can change; taxes and fees are excluded.
Make the plan yours
Give this number a name
Save a target you can revisit. The calculator stays free, and sign-in is only needed to keep your goal across visits.
$2,000 saved · $18,000 to go
What this calculator does
It works in two directions. "How long will it take?" mode takes your goal, current savings, and monthly amount and projects the months until you arrive, with interest compounding along the way. "How much per month?" mode flips it: give it a deadline and it solves for the exact monthly deposit required, using the standard future-value annuity formula.
Interest helps — consistency wins
Your starting balance, deposits, and yield all affect the timeline. Compare a zero-interest scenario with your assumed APY using the savings interest calculator. Savings rates can change. A CD ladder can stagger maturities, but rates on future reinvestments are unknown and early withdrawals may cost money.
Make the goal automatic
If it fits your cash flow, schedule a transfer after payday and check the amount when your income or expenses change. Leave enough for upcoming bills to avoid overdrafts. Keep planned purchases distinct from your emergency reserve. The CFPB savings guide describes automatic transfers and other ways to build a saving habit.
Frequently asked questions
How long does it take to save $10,000?
As an illustration, with no starting balance and a constant 4% APY, end-of-month deposits of $400 reach $10,000 in 25 months; $250 deposits take 38 months. The APY is an assumption, not an advertised current rate. Taxes and fees are excluded.
How much should I save each month?
Use the deadline mode to estimate the monthly deposit after accounting for current savings and the assumed yield. Compare the result with what your budget can support; changing the deadline or target may make the plan more workable.
Should savings goals include interest in the plan?
Try both your assumed yield and a zero-interest scenario. Interest can help, but changing rates, fees, and taxes can reduce the result. Do not treat a projected balance as a guaranteed outcome.
Where should I keep money I'm saving for a goal?
The deadline, need for early access, and ability to absorb losses matter. Compare insured savings accounts and CD terms for cash goals, including fees, coverage limits, and withdrawal penalties. Investments involve a risk of loss and need a separate assessment.
More free calculators
Inflation Calculator
Compare buying power between 1913 and 2025 using published annual CPI data.
FDIC Insurance Calculator
Check how much of your deposits are actually insured — and how much is at risk.
CD Ladder Calculator
Build a CD ladder and see the maturity schedule and total interest.
CD Penalty Calculator
Estimate what closing your CD early could cost, using the terms in your agreement.
Savings Interest Calculator
Project how your savings grow with APY, compounding, and monthly deposits.
APY ↔ APR Converter
Convert between APR and APY and see what compounding really does to a rate.
Emergency Fund Calculator
Work out how big your emergency fund should be — and how long it takes to build.
CD vs Savings
Lock in a CD or stay liquid in savings? Compare the actual dollars.
Rule of 72
See how many years it takes for your money to double at any rate.
Extra Mortgage Payment
See how paying extra principal changes your mortgage payoff and interest cost.
Start with your next money decision: plan a cash buffer, set a savings target, or compare buying power.