Savings Goal Calculator

It first projects your current savings forward with compound interest over your target timeframe, then subtracts that projected amount from your goal — so you're only solving for the monthly contribution needed to make up the remaining gap, not double-counting money you've already set aside.

The calculator caps the remaining goal at zero in that case, so you'd see a required monthly contribution of $0 — meaning you don't need to contribute anything further for your existing savings to grow into your target by the deadline.

Interest compounds over time, so its effect is much more pronounced over a 10-year goal than a 6-month one — for short savings goals, the required monthly contribution will be very close to simply dividing the remaining amount by the number of months, since there's little time for interest to meaningfully help.

Use your actual account's current annual percentage yield (APY) if you know it — high-yield savings accounts and money market accounts vary significantly, so check your specific account rather than assuming a generic figure.