Savings Goal Calculator
Plan and reach your financial goals with our easy-to-use calculator
Your Savings Goal
Your Results
Enter your goal details and click "Calculate" to see your savings plan.
About This Calculator:
This Savings Goal Calculator uses compound interest to show you exactly how much you need to save each month to reach your financial goals. Built with real-world financial formulas, it helps you plan for vacations, home purchases, education, or any savings target.
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What is Savings Goal Calculator?
A Savings Goal Calculator is a powerful financial tool that helps you determine how much you need to save each month to reach a specific financial target by a set date. It factors in your current savings, expected interest rate, and time horizon to give you a clear, actionable plan. Whether you're saving for a car, wedding, or retirement, this calculator makes goal-setting simple and achievable.
Why You Need a Savings Goal Calculator?
Without a clear plan, saving feels overwhelming. A savings goal calculator breaks down big targets into manageable monthly actions. It shows the power of compound interest and helps you avoid procrastination. Use it to stay motivated, track progress, and achieve financial milestones faster.
How to use the Savings Goal Calculator — Complete guide:
Step 1 — Set your savings goal
Enter the total amount you want to save (e.g., $10,000 for a vacation).
Step 2 — Add current savings
Include any money you've already saved toward this goal.
Step 3 — Choose time period
Select how many months or years you have to reach the goal.
Step 4 — Enter interest rate
Use your savings account's APY or expected return (e.g., 4–5% for high-yield savings).
Step 5 — Optional: Set monthly contribution
Enter how much you can save monthly, or leave blank to calculate the required amount.
Step 6 — Review results
See your required monthly savings, total interest earned, and growth over time.
Worked Example:
Goal: $20,000 | Current: $5,000 | Time: 3 years | Interest: 5%
Total interest = ~$2,300
Frequently Asked Questions:
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