Savings Goal Calculator
How much to save each month to hit a target by a date.
Save each month
$651
For 5 years at 4.5% APY to reach $50,000.
About
Enter your savings goal, current balance, target date, and expected interest rate. The calculator tells you the monthly contribution needed to get there. Useful for down payments, weddings, vacations, and any time-bound savings goal.
How to use
- Enter your goal amount and target date.
- Enter current savings and expected interest rate.
- See the required monthly contribution.
FAQ
What rate should I use?+
For a high-yield savings account, 4 to 5% is realistic right now. For longer-term money in index funds, 7% is the historical average after inflation.