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Savings Goal Calculator
Find the monthly contribution needed to reach a target by a chosen date.
Your inputs
Starting values are examples. Edit them to explore your own scenario.
Use one currency for all amounts. Changing this label does not convert numbers or apply any country’s tax rules. Amounts may include up to two decimal places.
Already available for this goal.
The amount you want at the end of the term.
Use 0% to exclude return assumptions.
Contributions occur at the end of each month.
Required monthly contribution: USD 375.00
Your current scenario
Recalculated from the inputs above. Rounded display amounts may not reconcile exactly except where a rounding split is explicitly shown.
- Required monthly contribution
- USD 375.00
- Balance with rounded contributions
- USD 10,000.00
- Existing savings with assumed growth
- USD 1,000.00
- The monthly contribution is rounded upward so the illustrated balance does not fall below the target because of display rounding.
How this calculation works
Required monthly contribution = max(0, (target − current × (1 + r)^n) ÷ annuity factor). The factor is ((1 + r)^n − 1) ÷ r, or n at 0%.
Assumptions and limits
- The required contribution is rounded up to the selected currency’s smallest displayed unit.
- Constant return; no taxes, fees, withdrawals or inflation. Having enough under the assumption does not guarantee a future balance.
Worked example
Example: current savings of 1,000, a target of 2,200 and 12 months at 0% require 100 per month.
Related educational tool: Investor.gov’s savings goal calculator. Check contribution timing and compounding frequency when comparing results.
Questions about this tool
Why can the required contribution be zero?
Your existing savings already reach the target under the selected return assumption. Use 0% to check the target without relying on growth.
Does changing the currency convert my amounts?
No. Currency selects the unit and rounding used to display the numbers you enter. Enter every amount in that same currency. No exchange rate, local tax rule or benefit entitlement is inferred.
Check the next part of your plan
- Money planning methods — Check timing, tax and fee exclusions before committing to a savings plan.
- Compound Interest Calculator — See how a different contribution changes the modeled final amount.
- Financial Independence Target Calculator — Build a longer-term target from annual spending assumptions.
- Loan Payment Calculator — Compare saving first with a fixed-payment borrowing scenario.