Savings goal calculator
Pick a goal — a deposit, a car, a trip, a cushion — and work backwards. Set a deadline to see what you need to save each month, or enter what you can afford to see when you will get there.
Leave at 0 if the money will not earn interest.
Your plan
For 2 years
If you start this month
Add a rate to include interest
That is about $87 a week. Too much? Try a later date and watch the monthly figure fall.
Track it in Wally
Create a budget category for this goal in Wally with $375 a month planned, so the saving is part of your budget rather than whatever is left over.
Wally is a free budgeting app for iOS and Android — no subscription, no bank connection required. See how it works.
How the calculation works
With a deadline, the calculator finds the fixed monthly deposit that turns what you have today into your goal by the end of that month, including interest. With a monthly amount, it runs the same sum forwards and counts the months until the balance reaches the goal.
Interest is compounded monthly from the annual rate (APY) you enter. Leave it at zero for an ordinary account, or set it to your savings account rate. On short goals the difference is small; on goals measured in years it adds up.
Making the monthly number stick
The most reliable way to hit a savings goal is to move the money on payday, before it can be spent — an automatic transfer to a separate account, set to the monthly figure above. Saving whatever is left at the end of the month rarely leaves anything.
If the monthly number is more than you can manage, change one of the three things you control: push the date out, lower the goal, or find the difference in your budget. The calculator makes the trade-off visible — try a later date and watch the monthly figure fall.
Frequently asked questions
How do I calculate how much to save each month?
Subtract what you have already saved from your goal, then divide by the number of months until your deadline. That gives the amount with no interest. If your savings earn interest, the monthly figure is slightly lower — the calculator above works that out for you.
What interest rate should I use?
Use the APY of the account the money will actually sit in. If you are not sure, leave it at 0% — that gives a slightly conservative answer, so you will reach the goal a little early rather than late.
Should I save for several goals at once?
You can, but give each one its own monthly amount so progress is visible. Most people put an emergency fund first, then split what is left between the other goals by deadline.
Is my data saved anywhere?
No. The calculator runs entirely in your browser. Nothing you enter is sent to a server or stored.