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Savings Goal Calculator
Free savings goal calculator. Find how much to save each month to reach a target by a deadline.
Deposits vs. Interest
Frequently Asked Questions
How much do I need to save each month to reach my goal?
It depends on the goal, what you have saved, the time you have, and the interest you earn. The calculator solves for the deposit using the future value of an annuity, counting growth on both existing savings and new deposits.
Does the calculator account for interest?
Yes. Enter the APY on your savings account or CD and it grows your current balance and each deposit, then reports how much of the goal interest covers.
Can I save weekly or biweekly instead of monthly?
Yes. Choose a deposit frequency and the calculator converts the rate and number of deposits to match. Biweekly savers make 26 deposits a year, which reaches a goal slightly faster than 12 monthly deposits of the same annual total.
What if my current savings already cover the goal?
The calculator says so and shows a required deposit of zero, since growth alone reaches the target within your timeframe.