Enter a goal, a deadline and an interest rate to get the monthly amount you need to save.
By TanLabs · Formulas cross-checked against the free spreadsheet · Updated 2026-10-31 · Runs in your browser – nothing you type is sent anywhere
With savings goal $10,000, already saved $1,000, months to goal 24, interest rate 4% per year:
Save $357 per month
Over 24 months you deposit $8,580; interest adds about $420
Change any number above – the result, chart and table update instantly. Use Copy link to save or share your exact scenario.
Monthly saving P = (goal − current × (1+r)^n) × r ÷ ((1+r)^n − 1), with r = annual rate ÷ 12 (P = (goal − current) ÷ n if rate is 0).
Goal $10,000, already saved $1,000:
| Deadline | Monthly at 0% | Monthly at 4% APY | Interest does for you |
|---|---|---|---|
| 12 months | $750 | $733 | $204 |
| 24 months | $375 | $357 | $420 |
| 36 months | $250 | $232 | $634 |
| 60 months | $150 | $132 | $1,055 |
For short goals the deadline matters far more than the interest rate. Interest only starts to help noticeably over several years.
Your savings account APY today. Use 0 for a cash envelope.
No – rates change. Treat the result as an estimate.
Run each separately and add the monthly amounts, or use sinking funds in a budget sheet.
Run the calculator for each goal and add the monthly amounts. Keeping separate savings "buckets" makes progress easy to see.
Extend the deadline, lower the goal or start with a smaller first milestone. Changing the months field shows the trade-off instantly.
Use APY for savings accounts. The calculator compounds monthly, which matches how most savings accounts pay interest.