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Monthly Savings Goal Calculator

Work out monthly savings goal instantly with clear inputs, formula shown and shareable results.

About Monthly Savings Goal Calculator

Given a goal and a deadline, the monthly saving follows from the annuity formula. Showing the no-interest figure alongside makes clear how much of the work the interest is doing over short horizons — usually very little.

Formula

Required saving

Monthly = Goal / {[((1+r)^n - 1)/r] × (1+r)}

Worked example

With the default values below, Monthly Savings Goal Calculator returns Monthly Saving Required of $19,562.49. Change any input above and every figure here is recalculated in your browser.

Inputs used

Savings Goalminimum 0
500,000
Months Availableaccepts 1–240
24
Annual Interest Rateaccepts 0–100 %
6 %

Results

Monthly Saving Required
$19,562.49
Total You Will Deposit
$469,499.82
Interest Earned
$30,500.18
Monthly Saving With No Interest
$20,833.33

Step by step

  1. 1Values used
  2. 2Required saving
  3. 3Monthly Saving Required= 19,562.49
  4. 4Total You Will Deposit= 469,499.82
  5. 5Interest Earned= 30,500.18
  6. 6Monthly Saving With No Interest= 20,833.33

Assumptions and limits

  • The result is derived only from the 3 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take inflation, tax or fees or charges into account.
  • Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
  • Figures are estimates for planning only. Market returns are not guaranteed, and rates, limits and tax rules change. This is not financial or tax advice — speak to a qualified adviser before acting.
  • This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Figures are estimates for planning only. Market returns are not guaranteed, and rates, limits and tax rules change. This is not financial or tax advice — speak to a qualified adviser before acting.

Frequently Asked Questions

Why is interest almost irrelevant over two years?

There is too little time to compound. Under three years the deposit amount does nearly all the work.

What if the goal is not reachable?

Extend the deadline or reduce the goal — raising the assumed return only adds risk of a shortfall.

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