Savings goal calculator: target amount, current balance, monthly contributions, and expected return → months to goal, progress %, and growth chart.
How it works
A savings goal is not just "goal minus balance divided by monthly savings"—compound growth on what you already have and on each contribution shortens the timeline. Example: $25,000 target, $5,000 saved today, $350/month at 5% annual return reaches the goal in about 50 months; without growth it would take ~57 months. You are already 20% of the way there.
Frequently asked questions
What return rate should I use?
Use 0% for cash in a checking account, 3–5% for high-yield savings or conservative bonds, and higher only if the money is invested and you accept volatility. Overstating returns makes the timeline look unrealistically short.
What if I cannot contribute every month?
Treat the monthly contribution as an average—bonuses, tax refunds, or side income can be modeled as extra one-time deposits by temporarily raising current savings. Missing months pushes the timeline out roughly one month per missed payment at typical rates.
Emergency fund vs named savings goal?
Keep emergency money liquid in a separate account before aggressive goal timelines. This calculator works for vacations, down payments, or wedding funds—use our emergency fund tool first if you have less than 3–6 months of expenses saved.