Savings Goal Calculator
Set a savings goal, your current balance, and a monthly deposit — see the exact number of months (and years) until you get there.
The total amount you want to reach.
What you already have set aside.
What you can add every month.
APY your savings account pays. Use 0 for cash under the mattress.
Months to reach your goal
34
- That is (years)
- 2.8
- You will have deposited
- $9,500
How it works
With a positive interest rate the calculator solves the compound-growth equation for time: how many months until your balance, growing monthly and topped up by your deposit, first reaches the goal. At 0% interest it simply divides the remaining gap by your monthly deposit. The result is the optimistic case: it assumes the rate holds and you never miss a deposit. Use it to compare plans — deposit amounts and rates move the date more than intuition suggests.
Frequently asked questions
How is the months-to-goal calculated?
For a positive interest rate it solves the standard future-value formula for time — the same compound-interest math banks use, rearranged to output months. At 0% interest it falls back to dividing the remaining amount by your monthly deposit.
Why does the result say 0 months?
That means your current savings already meet or exceed the goal. Congratulations — raise the goal or redirect the monthly deposit to your next target.
What interest rate should I enter?
Use the APY of your savings account (often shown as “4.00% APY”). For investments, be conservative: historical stock returns average around 7–10% a year before inflation, but individual years vary wildly.
Does it account for inflation?
No — the goal is treated as a fixed nominal amount. If your target is years away, either raise the goal by expected inflation (2–3% a year) or mentally treat the result as a minimum timeline.