How much should you save each month?
This calculator works backward from your goal. It grows your existing savings forward, then solves for the regular monthly deposit needed to cover the gap, accounting for the interest those deposits will earn along the way.
Match the account to the timeline
- Short-term (0–2 years): use a high-yield savings account or CD — safety matters more than growth.
- Medium-term (3–5 years): a conservative mix; expect modest returns.
- Long-term (5+ years): diversified investments can earn more, with more ups and downs along the way.
Where to keep your savings
Earn more
High-yield savings
Online savings accounts often pay many times more than traditional banks.
Compare rates →
Automate
Automatic transfers
Set up an automatic monthly transfer so your goal funds itself.
Learn how →Frequently asked questions
What if the monthly amount is too high?
Extend your timeline, lower the goal, or increase your starting amount. Small changes to the deadline can make the monthly figure much more manageable.
It says I need $0 per month — why?
Your existing savings, growing at the return you entered, are already projected to reach the goal on their own by your deadline.