Savings Goal Calculator
Find out exactly how much to save each month to reach your target amount.
Related Articles
Learn more about this topic
Related Tools
You might also find these useful
Everything you need to know
How Much Should I Save Per Month?
Whether you're building an emergency fund, saving for a vacation, or working toward a house down payment — this calculator tells you the exact monthly savings required. Enter your goal, timeframe, and expected return rate, and get a clear answer in seconds.
The Power of Starting Early
Time is your biggest advantage. Saving $300/month at 7% annual return for 20 years gives you about $156,000 — but only $72,000 is from your pocket. The rest is interest. Starting 5 years later for the same goal would require saving about $495/month. The earlier you start, the less heavy lifting you do.
Goal-Setting Strategies
- Emergency fund: Aim for 3–6 months of living expenses. This should be in a high-yield savings account (not invested).
- Down payment: Typically 10–20% of the home price. A 5–7 year timeframe is common.
- Vacation: Set a realistic budget and work backward. Even 6 months of focused saving can fund a great trip.
- New car: A 20% down payment reduces loan costs significantly. Save in a short-term bond fund or high-yield account.
Tips to Boost Your Savings
- Automate: Set up automatic transfers to your savings account on payday.
- Use the 50/30/20 rule: 50% needs, 30% wants, 20% savings.
- Track spending: Small daily expenses (coffee, subscriptions) add up to thousands per year.
- Increase gradually: Raise your monthly savings by 5–10% each year as income grows.
Related Tools
See how your savings compound over time with the Compound Interest Calculator. Plan systematic monthly investments with the SIP Calculator. Check your take-home pay to budget savings with the Salary Calculator.