Savings Goal Calculator

Calculate the required monthly contribution to reach a target savings amount by a future date, accounting for compound interest on your balance.

Inputs
Results
Required Monthly Savings
$662.08

Try an example

Formula

PMT = (Goal − Current×(1+r)^n) × r / ((1+r)^n − 1)

Learn How This Works

How Compound Interest Really Grows Your Money

The compound interest formula explained with a monthly-contribution example and why starting early matters more than the rate.

How a $500 Monthly Contribution Becomes a Seven-Figure Retirement

The compound growth math behind long-term retirement savings, and why consistency matters more than perfect timing.

How Much You Actually Need to Save Each Month to Hit a Goal

The math behind working backward from a savings target to a required monthly contribution, with a real example.

Net Worth and Emergency Fund Targets: The Two Numbers That Frame Every Budget

How net worth and emergency fund calculations work, and why they answer different financial questions.

Planning for Retirement in Your 40s: What the Compounding Math Actually Shows

A real walkthrough of retirement projections starting mid-career, showing how existing savings and new contributions both compound toward the same goal.

Frequently Asked Questions

Related Calculators

Compound Interest Calculator

See how your savings or investments grow with compound interest over time.

Retirement Savings Calculator

Project your retirement nest egg based on current savings and contributions.

Mortgage Calculator

Estimate your monthly mortgage payment, total interest, and payoff schedule.

Loan Calculator

Calculate monthly payments for any personal, auto, or business loan.

Simple Interest Calculator

Calculate simple interest earned or owed on a principal amount.

ROI Calculator

Calculate return on investment as a percentage and annualized rate.