Savings Goal Calculator
Find out how much to save each month to reach a savings goal by a target date, factoring in interest, free in your browser.
Enter Values
Before you rely on this: First-pass guide only. Verify safety-critical or regulated work against the relevant standards, your project requirements and a qualified professional.
How to use this calculator
- Enter your monthly deposit, rate and years.
- Press Calculate.
How it works
Future value of regular deposits = PMT × ((1 + i)^n − 1) ÷ i, where i is the monthly rate and n the number of months.
Worked example
$100/month for 1 year at 0%. = $1,200 deposited.
Common mistakes
- Entering the annual rate as a monthly one — enter the annual rate; the tool converts it.
- Expecting tax on interest to be deducted — it varies by person and isn't included.
Frequently asked questions
How do I work out what to save each month?
Divide the gap between your goal and current savings by the number of months, then the tool factors in any interest to refine the figure.
Does interest change how much I need to save?
Yes — interest on your balance does some of the work, so a higher rate or longer timeframe lowers the regular amount you must contribute.
Are deposits added at the start or end of each month?
At the end of each period (an ordinary annuity), which is the standard convention for regular savings.
Related tools
- Compound Interest Calculator
- Future Value Calculator
- Present Value Calculator
- Retirement Savings Calculator
- Inflation Calculator
- Savings Rate Calculator
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Cite this tool
Zerdly. (2026). Savings Goal Calculator. Retrieved from https://www.zerdly.com/tools/savings-goal-calculator/
Tip: Enter any known values to calculate the remaining results.
All calculations run in your browser. Your inputs are never saved or transmitted.