Savings Goal Calculator

How the savings goal calculator works

Enter your target amount, what you've saved so far, the annual return you expect to earn, and how many months you have. The calculator tells you the exact monthly contribution needed — and how much of your goal will be funded by investment growth versus your own contributions.

Why earning a return matters

If you save $1,000/month for 36 months at 0% interest, you'll have $36,000. At 5% APY — achievable in a high-yield savings account — you'd have about $38,968, with nearly $3,000 of that coming from interest alone. The longer your timeline and higher your rate, the bigger the boost.

Common savings goals

• Emergency fund: 3–6 months of expenses (a non-negotiable first step)
• Down payment on a home: typically 5%–20% of the home price
• Wedding: average cost ~$30,000 in the U.S.
• Vacation: set a budget and divide by the months you have
• Big purchase: car, education, home renovation

Where to put your savings

• 0–2 years: high-yield savings account or money market (~4–5% APY, FDIC-insured)
• 3–5 years: short-term CDs or bond funds (slightly higher yield, still low risk)
• 5+ years: diversified investment portfolio (higher expected return, more volatility)

Match your investment's risk to your timeline. Money you need in under 2 years should not be in stocks — a market dip at the wrong moment could leave you short.