Savings Goal Calculator

What to put aside each month, and how much interest carries.

Written and maintained by Mohit PatelLast checked August 4, 2026How we build these

Currency

Savings target

Already saved

Annual return

Years to reach it

Contributing

Required each period

$147.05

60 contributions · $166.67 without interest

Required each period$147.05

Without any interest$166.67

Number of contributions60

Total contributed$8,822.74

Interest doing the rest$1,177.26

Interest is carrying $1,177.26 of the $10,000.00 target, which is why the required payment of $147.05 is below the $166.67 you would need with no return at all. The longer the horizon, the more of the work the return does — and the more sensitive the answer becomes to whether that return actually materialises.

How the Savings Goal Calculator works

The contribution needed to reach a target, given what you already have and what you expect to earn. The row worth reading is how much of the target interest is carrying — the longer the horizon, the more the answer depends on a return that may not materialise.

Also known as: how much to save per month · savings target calculator · monthly savings calculator · reach a savings goal

Where to go next

The Savings Goal question rarely arrives on its own. These are the ones that usually come with it:

Future Value Calculator — A lump sum plus contributions, in nominal and real terms.
CD Calculator — Certificate of deposit maturity value, from the APY.
Compound Interest Calculator — See how savings grow with regular contributions.
Loan & EMI Calculator — Monthly payment, total interest, and a full amortization schedule.

Sources

Not financial advice. This calculator is for planning and illustration, not financial advice. Real products carry fees, taxes, and terms it does not model. Confirm figures with your lender or a qualified adviser before committing.

Frequently asked questions

How much do I need to save each month?

It depends on the target, the horizon and the return. £10,000 in five years at 5% needs £147.05 a month, against £166.67 with no return at all.

How much difference does the return make?

More the longer you save. Over five years it covers about 12% of the target; over twenty-five years, at the same rate, it covers most of it.

What return should I assume?

Conservatively. A shortfall from an optimistic assumption compounds too, and the arithmetic gives no warning. It simply produces a payment that turns out to have been too small.

What if I already have enough?

The page says so. If your existing balance compounds past the target on its own, no further contributions are needed.

Put this calculator on your own site

Free to use, on any site, commercial or not. Paste this where you want it to appear. It is a plain iframe, so it works in WordPress, Squarespace, Wix, Webflow, Ghost and anything else that accepts HTML.

The one-line version

<iframe src="https://www.thecalclibrary.com/embed/savings-goal-calculator" width="100%" height="640" style="border:1px solid #e2e8f0;border-radius:12px" loading="lazy" title="Savings Goal Calculator"></iframe>
<p style="font:13px/1.5 system-ui,sans-serif;margin:6px 0 0;color:#64748b">Powered by <a href="https://www.thecalclibrary.com/savings-goal-calculator" style="color:#64748b">Savings Goal Calculator</a> from The Calc Library</p>

The only condition is that the credit line below the frame stays in place. That one line is what pays for the tool being free — it is how anyone else finds it.