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💰 Savings Goal Calculator

Figure out how long it will take to reach a savings goal with monthly deposits, or how much you need to save each month to hit a target in time.

Savings Goal Calculator

Plan how long it will take to reach a savings goal or how much you need to save each month, based on an interest rate and regular monthly contributions.

Goal type

Find how long it will take to reach a savings goal with regular monthly deposits.

Inputs

Current savings

Target amount

Annual interest rate (%)

Monthly contribution

savings goal calculatorhow long to save calculator

Result

Months to reach goal

Approximate years

2.33

How to use this tool

Choose whether you want to solve for time or monthly deposit.
Enter your current savings, target amount, interest rate, and either monthly deposit or time horizon.
Use the result to plan realistic savings goals and contributions.

Savings goal calculator for planning

Turn vague goals like "save for a house" into concrete timelines or monthly targets.
Experiment with changing contribution amounts or interest rates to see their impact.
Ideal for personal finance planning, budgeting apps, and coaching sessions.

Assumptions and limitations

Assumes a constant annual interest rate compounded monthly.
Does not include tax, fees, or changes in contribution behavior over time.
For more complex scenarios, you may want to export these numbers to a spreadsheet for custom modeling.

FAQ

Can I add one-off lump-sum deposits?: This version focuses on regular monthly contributions. You can approximate lump sums by increasing the starting balance.
What interest rate should I use?: Use an estimate of your expected annual return (for example, the rate on a savings account or long-run investment return), expressed as a percentage.
Does this guarantee I will hit the goal?: No calculator can guarantee future returns. Treat the result as a planning estimate based on your assumptions.

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