Savings Goal Calculator
100% PrivateCalculatorsWork out how much to save each month to reach a goal amount by your target date.
Runs entirely in your browser. Your input is not uploaded to Ovatly or anywhere else.
574.74 per month
Your current savings are projected to grow to 5,524.71 by the deadline, leaving 14,475.29 to build from deposits, which are assumed to land at the end of each month.
The return is an estimate you supply; real returns are not steady, so treat the figure as a planning guide.
- 1Enter the goal amount.
- 2Enter what you have already saved (its growth is counted).
- 3Enter the expected yearly return and the months remaining.
- 4Read the monthly deposit needed.
The existing 5,000 is projected to grow to 5,524.71 by the deadline, leaving 14,475.29 to build. The required deposit is 574.74 at the end of each month. At a 0% return the same goal would need 625.00 a month, a clean way to see what the return is worth.
- Deposits are assumed to land at the end of each month; depositing at the start of the month reaches the goal slightly sooner.
- The return you enter is an estimate. Savings account rates change, and investment returns are never steady, so revisit the plan periodically.
- If your existing savings already grow past the goal by the deadline, the tool says no deposit is needed.
Extend the deadline or raise the starting amount; the tool recomputes instantly, so you can find the combination that fits your budget.
About this tool
The Savings Goal Calculator works backwards from a target: given a goal amount, what you have already saved, an expected yearly return and a deadline, it tells you the fixed monthly deposit that gets you there. It is built for house deposits, emergency funds, weddings and any dated target.
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Part of Ovatly's free tools in Calculators.