Savings goal calculator
How much do you need to save each month for a trip, a car, a down payment or your emergency fund? Enter your goal and timeframe and we'll tell you instantly.
How to use this calculator
- Amount you want to save: the total cost of your goal.
- What you've already saved: money you've already set aside for this goal.
- Timeframe: how many months you want to reach it in.
- Annual interest: if you keep the money in an interest-bearing account, enter its rate. If not, leave 0.
Tips to reach your goal
- Automate the transfer on payday so it doesn't depend on willpower.
- Use a separate account just for this goal. Watching it grow is motivating.
- If the monthly amount is too high, extend the timeframe or lower the goal. A realistic goal you reach is worth more than an ambitious one you abandon.
- Find where the money will come from with our 25 ways to save money and fit it into your monthly budget.
Common savings goals
| Goal | Amount | Timeframe | Monthly saving (no interest) |
|---|---|---|---|
| Vacation | 1,200 | 12 months | 100 |
| Emergency fund | 4,800 | 24 months | 200 |
| Used car | 9,000 | 36 months | 250 |
Results are estimates for educational purposes and are not financial advice.