Savings Goal Calculator
Find out how much to save each month to reach any savings goal on time.
How to use the Savings Goal Calculator
Whether it's an emergency fund, a down payment or a dream trip, enter your target, what you've already saved, the interest rate you expect and your deadline.
Formula
PMT = (Goal − Current × (1 + r)ⁿ) × r ÷ [(1 + r)ⁿ − 1]
Worked example
To reach $50,000 in 5 years with $5,000 saved at 4.5%, you need to save roughly $651 per month.
Frequently asked questions
How big should an emergency fund be?
A common guideline is 3–6 months of essential expenses; more if your income is irregular.
Where should short-term savings go?
Money needed within a few years is usually kept in high-yield savings accounts, term deposits or similar low-risk products.
Results are estimates for educational and planning purposes. Always confirm important financial, health or legal decisions with a qualified professional. Last reviewed 2026-09-27.