Savings Goal Calculator

How much do I need to save each month?

Starting with $1,000, a $10,000 goal in three years at a constant 6% nominal annual rate compounded monthly needs $223.80 per month at month end. Your starting savings and new deposits total about $9,056.71; roughly $943.29 is modelled growth. At zero interest the required amount is $250 per month.

The monthly solver uses C = max(0, [G − P(1+i)^m] / S), where i = r/12, m is the number of complete months and S = [(1+i)^m − 1]/i. At zero interest S = m. Beginning deposits divide the end-of-month amount by (1+i). Currency symbols are labels; all amounts must use the same currency.

How long will it take to reach my savings goal?

Choose the time mode and enter your monthly budget. Each month applies the selected deposit timing and interest, then compares the balance with the target. The result is the first complete month that reaches the target; it can exceed the target slightly. Starting with $1,000 and adding $225 at month end at 6%, a $10,000 fixed goal is crossed in month 36.

Already-funded goals return zero months. Zero starting savings and zero deposits cannot reach a positive goal. A rising target can outpace your plan; if no crossing occurs in 100 years, the result says so.

What changes when I include inflation?

With inflation above zero, the entered goal is treated as its cost in today's money. The future target is G = today's goal × (1 + inflation)^years. A $10,000 goal with 3% annual inflation becomes about $10,927.27 after three years. The monthly deposit stays fixed in nominal money; it does not increase automatically with inflation. In time mode the target rises each month until the first crossing.

This is an assumed constant inflation rate, not a forecast of a particular purchase's price. If your goal already states the actual future amount you want, leave inflation at zero.

Compare the same goal over different deadlines

Fixed $10,000 goal, $1,000 initially saved, 6% nominal interest, month-end deposits and no inflation. Contributions include the starting savings; figures are rounded to whole currency units.

Assumptions and limits

The interest assumption is nominal with monthly compounding; it is not an effective APY. Choose a timeline in whole months, such as 1.5 years for 18 months. Rates and deposits are held constant, with no withdrawals, fees or separate taxes. Real returns, account terms and price changes can differ. This tool compares numerical scenarios and does not choose an account or investment for you.

Use the investment calculator with annual deposit increases for a rising budget, the investment fee comparison for a stated fee model, or the effective annual rate converter to distinguish rate conventions. The Investor.gov savings goal tool provides another calculator for the monthly-saving question.

Savings goal questions

How much do I need to save each month?

For a $10,000 fixed goal in three years, $1,000 already saved and 6% nominal annual interest compounded monthly, end-of-month saving is about $223.80. At zero interest it is $250.

Can this calculator tell me how long to save?

Yes. Choose time at my monthly budget. The result is the first complete month the projected balance reaches the fixed or inflation-adjusted target, up to a 100-year limit.

Does inflation change my monthly deposits?

Inflation raises the future target when the entered goal is in today's money. Monthly deposits remain fixed nominal amounts. Use zero inflation when your goal already specifies its future currency amount.

What if I already have enough saved?

Time mode returns zero months if your starting savings meet the present target. The monthly solver requires no new deposits if the starting balance alone reaches the modelled future target.

Calculation modes and examples reviewed October 8, 2026. Hypothetical growth does not guarantee that a goal will be reached.