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Savings Goal Calculator

How much to save each month to reach a goal by a target date, accounting for what you already have and interest earned.

Enter values

Results update as you type.

Result

Monthly saving needed

$464.77

Weekly equivalent
$107.25
Total you will deposit
$16,731.54
Interest earned
$1,268.46

About the Savings Goal Calculator

How much to save each month to reach a goal by a target date, accounting for what you already have and interest earned.

Also known as: savings target, how much to save per month, goal savings, wedding savings calculator.

How to use this calculator

  1. Enter savings goal, already saved, time to goal, interest rate.
  2. The result updates instantly as you type — press Calculate (or Enter) at any time.
  3. Review the breakdown shown under the main result.
  4. Use Copy result or Share to save the answer or send a link with your inputs.

Formula

PMT = (Goal − P(1 + r)ⁿ)·r / ((1 + r)ⁿ − 1)

Worked example

Using the values pre-filled in the calculator above:

  • Savings goal = 20,000
  • Already saved = 2,000
  • Time to goal = 3 years
  • Interest rate = 4 %

the calculator returns:

  • Monthly saving needed: 464.77
  • Weekly equivalent: 107.25
  • Total you will deposit: 16,731.54
  • Interest earned: 1,268.46