Savings goal calculator
Find the monthly amount you need, test your current budget and explore a later deadline.
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Understand the assumptions
These are estimates from the values you enter. Review the assumptions in your report and check the actual terms before making a financial commitment.
How this calculator works
Find the monthly amount needed to reach a target from your current savings. Enter a deadline and an assumed return, then compare the required contribution with the amount you can put aside.
Example: save $10,000 in one year
Starting from zero with no interest, divide $10,000 by 12: you need about $833.33 per month. Using $833.34 covers cent rounding. Starting with $2,000 reduces the requirement to about $666.67 per month.
How to use the results
- Enter your target and savings already reserved for that goal.
- Choose the time available and a return assumption. Use 0% to see the contribution-only case.
- Enter your affordable monthly saving to estimate the shortfall.
- Compare a later deadline before relying on a higher return.
What assumptions affect the estimate?
Deposits arrive at month-end. The model uses a constant return and excludes tax, account fees and changes in prices. Returns are assumptions, not forecasts. At zero return, monthly deposit = (target − current savings) / number of months, floored at zero.
Compare ways to save $10,000 in a year or see how extending a deadline changes the deposit.
Understand your result
How to Calculate an Emergency Fund Target You Can Explain
Estimate emergency savings from essential expenses and a chosen time period, then work out the monthly deposit needed to build it.