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Savings Tool

Savings Goal Calculator

See how much to save each month to hit your target — or how long it'll take at your current pace.
🔒 Runs entirely in your browser — nothing you type here is sent to a server.
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Assumes a fixed interest rate and consistent monthly contributions — real accounts may compound differently or have variable rates. This tool is for general informational purposes only and isn't financial advice — see our Terms of Use.
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Two ways to use this calculator

Have a deadline? Switch to "I have a target date" and enter how many months you have. The calculator works backward from your goal to tell you exactly how much to set aside each month, accounting for interest along the way.

Have a budget? Switch to "I have a monthly amount" and enter what you can realistically contribute. The calculator tells you how many months it'll take to hit your goal at that pace.

Why interest rate matters more over time

For a goal a year or two out, the interest rate barely moves the numbers — your own contributions are doing almost all the work. Stretch the timeline to 5+ years and a higher-yield account starts meaningfully reducing how much you need to contribute each month, since compounding has more time to work.

Common questions

The calculator takes your goal amount, subtracts what you've already saved (with future interest applied), and spreads the remaining amount evenly across the months until your target date, accounting for interest earned on contributions along the way.

For goals within a few years, a high-yield savings account keeps your money accessible and earning some interest without market risk. Longer-term goals sometimes use investment accounts instead, which carry more risk but higher potential growth.

For short-term goals (under 2-3 years), the difference is modest. For longer time horizons, a higher rate compounds meaningfully and can reduce how much you need to contribute each month.