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Travel Savings Goal

Free Travel Savings Goal calculator with clear step-by-step results.

About Travel Savings Goal

Compounds what you have already saved forward to departure, then solves for the level monthly contribution that closes the remaining gap. Comparing that against what you can actually save shows the surplus or shortfall while there is still time to change the trip or the timeline.

Formulas

Required monthly saving

Monthly = (cost - current savings x (1 + r)^n) / (((1 + r)^n - 1) / r)

Projected balance

Projected = current savings x (1 + r)^n + monthly capacity x annuity factor

Worked example

With the default values below, Travel Savings Goal returns Monthly saving required of $358.80. Change any input above and every figure here is recalculated in your browser.

Inputs used

Total trip costminimum 0 $
4,200 $
Already savedminimum 0 $
900 $
Months until departureaccepts 1–120
9
Interest on the savings accountaccepts 0–15 %
4 %
Amount you can save each monthminimum 0 $
300 $

Results

Monthly saving required
$358.80
Projected balance at departure
$3,663.64
Surplus or shortfall at your current pace
-$536.36
Interest earned along the way
$63.64

Step by step

  1. 1Values used
  2. 2Required monthly saving
  3. 3Projected balance
  4. 4Monthly saving required= $358.80
  5. 5Projected balance at departure= $3,663.64
  6. 6Surplus or shortfall at your current pace= -$536.36
  7. 7Interest earned along the way= $63.64

Assumptions and limits

  • The result is derived only from the 5 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take inflation, tax or compounding frequency 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.

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

Frequently Asked Questions

Does interest make much difference over nine months?

Not much - typically one to two percent of the total. It matters more for trips two or more years out.

What if the shortfall is negative?

You are on track with room to spare. Either bank the surplus for the trip itself or bring the departure date forward.

Related Calculators

Travel Savings Goal – Calculate Monthly saving required