Savings Goal Calculator – Monthly Need

This tool works backwards from the goal: it grows your current balance to the target date at the expected rate, measures the shortfall, and converts that gap into a level monthly deposit using the sinking-fund formula. Example: a 50,000 goal 4 years out (n = 48) at 5% annual (r = 0.004167) with 5,000 already saved: today’s money grows to 5,000 × (1.004167)^48 ≈ 6,105, leaving a gap of 43,895; the required deposit is 43,895 × 0.004167 ÷ 0.2209 ≈ 828 per month. Without interest the same plan needs 938 monthly — the 5% return quietly funds about 110 of every payment. Extending the deadline to 5 years drops the deposit to roughly 735, while hitting 50,000 in 3 years demands about 1,171.

1. 1

   Step 1

   Enter your target amount and the date you need it.

2. 2

   Step 2

   Enter current savings and the expected annual return.

3. 3

   Step 3

   Read the required monthly deposit and the interest contribution.

4. 4

   Step 4

   Stretch or shrink the timeline until the deposit fits your budget.

• Ignoring the existing balance

• Overestimating the return

• All-or-nothing deadlines