Savings Goal Calculator
Enter your target amount, the number of months and the annual interest rate your savings will earn; the required monthly deposit is computed instantly. Add an existing balance if you have one — the calculator grows it with interest and subtracts it from the goal. Thanks to compounding, the required monthly amount is always lower than simply dividing the goal by the months; the result card shows how much of the goal is covered by contributions versus interest.
AI Report
Let AI interpret your results: a downloadable Word document in APA 7 / business report format.
Frequently asked questions
How is the required monthly saving calculated?
By solving the compound future-value equation backwards: Payment = (Goal − Start×(1+i)ⁿ) × i ÷ ((1+i)ⁿ − 1), where i is the monthly rate and n the number of months. Example: to reach 10,000 in 12 months at 6% a year you need 810.66 per month — 833.33 without interest.
How should I enter the interest rate?
Enter the nominal annual rate; the tool assumes monthly compounding (i = annual ÷ 12). For bank deposits, using the after-tax yield gives a more realistic answer. Enter 0 to see the no-interest scenario.
How does a starting balance change the result?
It compounds over the whole term and its future value is subtracted from the goal; monthly deposits only need to cover the rest. If the starting balance alone reaches the goal, the required deposit drops to zero and the tool tells you the goal is already covered.
Should I account for inflation?
If your goal represents today's purchasing power, yes: either inflate the target by expected inflation, or use the real return (interest minus inflation) as the rate. Our inflation calculator helps with that adjustment.