Compound Savings Goal Calculator
Set a target and a deadline and get the monthly number — or set what you can afford and find out when you arrive. Interest compounds monthly either way.
Your numbers
13.3% of the way there
3 yr
Results update instantly as you type. Inputs are remembered in your browser only.
Save each month
$667.62
For 3 yr
Projected wealth at the finish line
$30,000
Including interest
Total contributed
$28,034
Starting balance + deposits
Interest earned
$1,966
At 4.0% compounded monthly
Future value of what you already have
$4,509
If you added nothing more
Estimates only. Assumes a constant interest rate, no missed contributions and no tax on interest. Actual savings rates change over time.
Partner spot
High-yield savings accounts
Savings account and money-market offers will appear here so readers can put the assumed rate to work.
Sponsored placements will appear here, clearly labelled.
Balance growth toward your goal
Month-by-month plan
| Month | Contribution | Interest | Balance |
|---|---|---|---|
| 1 | $667.62 | $13.33 | $4,680.96 |
| 2 | $667.62 | $15.60 | $5,364.18 |
| 3 | $667.62 | $17.88 | $6,049.69 |
| 4 | $667.62 | $20.17 | $6,737.48 |
| 5 | $667.62 | $22.46 | $7,427.56 |
| 6 | $667.62 | $24.76 | $8,119.94 |
| 7 | $667.62 | $27.07 | $8,814.63 |
| 8 | $667.62 | $29.38 | $9,511.64 |
| 9 | $667.62 | $31.71 | $10,210.97 |
| 10 | $667.62 | $34.04 | $10,912.63 |
| 11 | $667.62 | $36.38 | $11,616.63 |
| 12 | $667.62 | $38.72 | $12,322.97 |
| 13 | $667.62 | $41.08 | $13,031.67 |
| 14 | $667.62 | $43.44 | $13,742.73 |
| 15 | $667.62 | $45.81 | $14,456.17 |
| 16 | $667.62 | $48.19 | $15,171.98 |
| 17 | $667.62 | $50.57 | $15,890.17 |
| 18 | $667.62 | $52.97 | $16,610.76 |
| 19 | $667.62 | $55.37 | $17,333.76 |
| 20 | $667.62 | $57.78 | $18,059.16 |
| 21 | $667.62 | $60.20 | $18,786.98 |
| 22 | $667.62 | $62.62 | $19,517.23 |
| 23 | $667.62 | $65.06 | $20,249.91 |
| 24 | $667.62 | $67.50 | $20,985.03 |
| 25 | $667.62 | $69.95 | $21,722.61 |
| 26 | $667.62 | $72.41 | $22,462.64 |
| 27 | $667.62 | $74.88 | $23,205.14 |
| 28 | $667.62 | $77.35 | $23,950.11 |
| 29 | $667.62 | $79.83 | $24,697.57 |
| 30 | $667.62 | $82.33 | $25,447.52 |
| 31 | $667.62 | $84.83 | $26,199.97 |
| 32 | $667.62 | $87.33 | $26,954.92 |
| 33 | $667.62 | $89.85 | $27,712.40 |
| 34 | $667.62 | $92.37 | $28,472.40 |
| 35 | $667.62 | $94.91 | $29,234.93 |
| 36 | $667.62 | $97.45 | $30,000.00 |
About this calculator
Every savings goal has three moving parts: the amount, the deadline and the monthly deposit. Fix any two and the third is determined. That is the whole logic of this page — switching modes just changes which one you want the calculator to solve.
Interest matters less over short horizons than people expect. On a two-year emergency-fund goal the deposits do nearly all the work and the rate is a rounding error; on a ten-year goal compounding contributes a visible share of the total. The interest-earned figure above tells you which situation you are in, and therefore how much effort to spend shopping for rates.
Match the account to the deadline. Money with a fixed date within a few years belongs in a high-yield savings account, money-market fund or term deposit where the balance cannot fall. Only goals far enough away to survive a downturn justify market exposure and the higher return assumptions used in the investing calculators on this site.
Automating a transfer on payday removes the decision entirely, which is why it outperforms willpower almost every time. Keep sinking funds for irregular costs — insurance premiums, car maintenance, gifts — so the goal itself stays on track. Before saving toward discretionary goals, an emergency fund of roughly three to six months of expenses is the usual priority.
FAQ
What are the two modes for?
Solve for contribution tells you how much to save each month to hit a target by a deadline. Solve for time tells you how long a contribution you can actually afford will take. Most people need both at different stages of planning.
How is interest compounded?
Monthly. Each month interest is applied to the running balance and then your contribution is added, which matches how most savings accounts and regular investment plans behave.
What rate should I use for a short-term goal?
For anything needed within a couple of years, use a high-yield savings or money-market rate rather than an equity return. Market volatility is unacceptable when the money has a fixed date attached.
Does this include tax on interest?
No. Interest earned outside a tax-sheltered account is usually taxable, which reduces the effective rate. Enter an after-tax rate if you want a more conservative result.