Savings Goal Calculator
Pick a goal and a deadline. The calculator tells you the exact monthly amount you need, accounting for interest your savings earn along the way.
| Total you'll deposit | — |
| Interest will contribute | — |
| Per week | — |
| Per day | — |
How the monthly amount is calculated
The calculator uses the future-value-of-annuity formula, solved for the payment:
PMT = (Goal − Current × (1+r)n) × r ÷ ((1+r)n − 1)
where r is the monthly interest rate and n the number of months. Interest does part of the work, so the required deposit is less than simply dividing goal by months — especially over longer periods.
Common savings goals and timelines
| Goal | Typical amount | At 4% APY over 3 years |
|---|---|---|
| Emergency fund | $10,000–20,000 | $262–524/month |
| Car (cash purchase) | $15,000–30,000 | $393–786/month |
| House down payment (10%) | $30,000–50,000 | $786–1,310/month |
| Wedding | $20,000–35,000 | $524–917/month |
Make it automatic
The most reliable saving strategy is automation: schedule a transfer to a separate high-yield savings account on payday, before spending happens. Breaking the goal into the per-week and per-day figures above also makes trade-offs concrete — "$16/day" is easier to act on than "$30,000 in three years."
Frequently asked questions
How much do I need to save per month for $30,000 in 3 years?
Starting from $5,000 at 4% APY, about $655 per month. With no starting savings and no interest, it would be $833/month — the head start and interest save you nearly $180/month.
Where should I keep money for a short-term goal?
For goals under ~5 years, high-yield savings accounts, money-market funds, or CDs are the standard choice: no market risk, currently ~3–5% APY. Stocks are too volatile for short deadlines.
Should I save while paying off debt?
High-rate debt (credit cards) usually costs more than savings earn, so most planners suggest a small emergency buffer first, then debt, then bigger savings goals.
What if I cannot afford the required monthly amount?
Extend the deadline, lower the goal, or start with what you can — the calculator updates instantly, so test scenarios until the number fits your budget.
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Last updated: 2026-07-07