How Long Will It Take to Save? Savings Goal Calculator
Enter your goal, what you’ve already saved and how much you can put aside each month. See how many months it will take, or flip it around and find the monthly amount you need to reach it by a set date.
- You put in
- $10,000
Watch your goal fill up every time you save.
Set your savings goal free in CashyHow the savings calculator works
- Months to goal: the calculator adds your monthly saving (plus interest, if you enter a rate) month by month until the balance reaches your goal.
- Monthly amount needed: the amount still missing is spread over the months you choose. With an interest rate, the interest your savings earn along the way is subtracted first.
- Interest is compounded monthly. Leave the rate at 0 for a plain savings account or cash.
Savings goal FAQs
How do I calculate how long it will take to save?
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Subtract what you’ve already saved from your goal, then divide by what you save each month. For example, a 6,000 goal with 1,000 saved and 500 a month takes 10 months. The calculator does the same and adds interest if you enter a rate.
How much should I save each month?
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Work backward from a deadline: pick the month you need the money, and the calculator tells you the monthly amount. If that number is too high, push the deadline out or lower the goal.
Should I include interest?
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Only if your savings sit in an account that pays it. For goals under two years, interest makes little difference; the monthly amount matters far more.
What should I save for first?
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Most people start with an emergency fund of three to six months of essential expenses, then move on to goals like a trip, a car or a home deposit.