Savings Goal Calculator

By CalculatorInn Team · Updated: 2026-03-22 · Free & accurate · Instant results

Determine how much you need to save each month to reach a specific savings goal.

Interactive Savings Goal Calculator

JavaScript is required for the interactive calculator. Enable JavaScript to use this tool.

How to Use This Calculator

Step-by-Step Instructions

  1. Enter your savings goal
  2. Enter your current savings
  3. Enter your annual return rate
  4. Enter your time to goal (years)
  5. Enter your monthly savings needed
  6. Enter your growth of current savings
  7. Enter your total you'll contribute
  8. Results appear instantly — no button needed

Formula

Mathematical Formula

PMT = (Goal - P(1+r)^n) × r / ((1+r)^n - 1)

How It Works

Calculates the monthly contribution needed after accounting for growth of existing savings.

Frequently Asked Questions

What if I start with nothing?

Set current savings to 0 and the calculator will tell you the full monthly amount needed.

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