Savings Goal Calculator
Two ways to plan a savings goal: tell it your deadline and it returns the monthly amount you need, or tell it your monthly amount and it returns the timeline. Interest is included both ways. Runs entirely in your browser — nothing you enter is uploaded.
Typical rates as of June 2026: high-yield savings ~4% APY · best 1-yr CDs ~4% · big-bank checking ~0%. Use the rate your money will actually earn.
The two questions every savings goal raises
Saving toward something specific comes down to one of two questions: "How much per month?" or "How long will it take?" They're the same relationship between a target, a starting balance, a rate, and time — just solved for whichever piece you don't know yet. Flip the toggle to switch which one the calculator answers.
On short goals, interest barely matters — and that's fine
For a goal one or two years out, the vast majority of the final balance is money you put in; interest is a rounding error. That's not a problem — it's the whole point. Money you'll need soon should be somewhere safe and liquid, not chasing returns. The interest line in the results makes this concrete: on a 2-year goal it's small; on a 10-year goal it can be a third of the total.
Pick a rate you'll actually earn
The honest default for a near-term goal is whatever a high-yield savings account or money-market fund pays right now — typically a few percent. Using an optimistic stock-market rate on money you'll spend next year just hides risk: if the market dips right before your deadline, the goal isn't there. Match the rate to the safety the goal needs.
Related
- Personal finance hub — all our money calculators and guides
- Compound interest calculator — for long-horizon investing goals
- FIRE calculator — the biggest savings goal of all
- Debt payoff calculator — if high-interest debt comes first
FAQ
Is anything I enter sent to a server?
No. The calculator runs entirely in your browser — open DevTools → Network and confirm. Your goal and balances never leave the tab.
Which mode should I use?
Use "Monthly amount I need" when you have a deadline — a house down payment in 3 years, a wedding next summer — and want to know what to set aside each month. Use "Time to reach goal" when you know what you can afford monthly and want to see how long it'll take. They're the same equation solved for different unknowns.
What return rate should I assume?
For short goals (1–3 years) the money usually belongs somewhere safe — a high-yield savings account, money-market fund, or short CD. As of June 2026 that means roughly ~4% APY at high-yield savings accounts, ~4% on the best 1-year CDs, and ~0% at big-bank checking. Don't assume stock-market returns for money you'll need soon; the point of a near-term savings goal is that the balance is there when you need it, not maximized. For longer goals you can justify a higher rate, but then it's really an investing goal — see the compound interest and FIRE calculators.
Are the preset goal amounts right for me?
They're starting points, not prescriptions. The chips seed common goals — a $15,000 emergency fund over 2 years, a $60,000 house down payment over 5, a $30,000 car over 3, a $5,000 vacation in 1 — and you can edit every number after clicking one. Your emergency fund should really be sized from your essential expenses (3–6 months of them), and a down payment from local home prices.
Are contributions added at the start or end of the month?
End of the month (an ordinary annuity). Each month the tool applies that month's growth first, then adds your contribution. Contributing at the start of the month would earn slightly more; end-of-month is the conservative convention.
Does this account for inflation or taxes?
No. The goal you enter is a fixed nominal number, and interest is shown pre-tax. For a short goal that's usually fine. For a goal many years out, remember that the target itself may need to grow with inflation, and interest in a taxable account is taxed.
What if the monthly amount is more than I can afford?
You have three levers: extend the deadline (the biggest one — time does a lot of work), lower the goal, or find a higher rate. Switch to "Time to reach goal," enter what you can afford, and see the honest timeline. A reachable plan you'll stick to beats an ideal one you'll abandon.