How much should you save each month?
This calculator works backwards from your goal. It takes your target amount, subtracts what you've already saved (grown with interest), and spreads the rest across your timeframe — accounting for the interest your monthly deposits will earn along the way.
Tips to reach your goal faster
- Automate the monthly transfer so you never skip it
- Keep the money in a high-interest savings account so it grows
- Increase the amount whenever your income rises
What if the monthly amount is too high?
Extend your timeframe or raise your starting amount — both reduce the monthly saving needed. Drag the sliders to find a comfortable plan.
Is my goal already covered?
If your current savings plus interest already exceed the goal, the calculator will show that you need to save $0 more.