Savings Goal Calculator 🎯
How much to set aside each month.
Your goal
You need to save
per month
From savings
Total contributions
Interest earned
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How to use this calculator
1
Set the dollar amount you want to reach.
2
Enter what you have already saved (zero is fine).
3
Choose your time horizon in years.
4
Enter the APY of your savings vehicle.
5
The required monthly contribution updates instantly.
Calculation method
We solve the future-value-of-an-annuity formula for the monthly payment: FV = P(1+r)^n + PMT × ((1+r)^n − 1) / r. Here P is what you already have, FV is your goal, r is monthly rate (APY ÷ 12), and n is months. If r = 0 the formula simplifies to (FV − P) ÷ n.
Data source: Standard time-value-of-money mathematics.
Last data update: May 24, 2026
Worked examples
Down payment in 3 years
Goal $20,000 · saved $2,000 · 4% APY
≈ $471 / mo
Wedding in 18 months
Goal $15,000 · saved $0 · 4% APY
≈ $805 / mo
$1M moonshot in 30 yrs
Goal $1,000,000 · saved $5,000 · 7%
≈ $812 / mo
Frequently asked questions
Earned interest covers part of the gap, so you contribute less yourself.
No — results are pre-tax. In a Roth IRA, HSA, or 529 the difference is usually small for short horizons.
Use the APY of where you will actually keep the money — HYSA (~4–5%), CDs (~4%), money market, or a brokerage settlement.
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Personal finance disclaimer.
Personal finance calculations are educational tools. Actual financial outcomes depend on many factors.
SmartMoneyCalcs is not a financial advisor — consult with a Certified Financial Planner for personalized advice.
Last updated:
May 24, 2026