Savings Goal Calculator
Estimate months to reach a target with starting balance, monthly deposits, and APY. Fully client-side — no account, uploads, or remote storage.
Added Apr 18, 2026 · Updated Jun 27, 2026
Input
Result
Enter a value for savings goal to see your result.
How it works
Calculates how many months it will take to reach a savings goal given your current balance, monthly contribution, and annual interest rate. Uses the future value annuity formula solved for the number of periods.
Formula
n = log((Goal·r + PMT) / (PV·r + PMT)) / log(1 + r)
- Goal
- Target savings amount
- PV
- Current savings (present value)
- PMT
- Monthly contribution
- r
- Monthly interest rate (annual rate ÷ 12 ÷ 100)
- n
- Number of months to reach the goal
Step by step
- 01Add any lump sum to the current savings to get the effective starting balance.
- 02If inflation adjustment is on, inflate the goal to its future value using the inflation rate.
- 03Subtract starting balance from the (adjusted) goal to find the remaining amount needed.
- 04Convert the annual rate to a monthly rate.
- 05Use the solved annuity formula to find the number of months needed.
- 06Multiply months by the monthly contribution and add starting balance for total contributions.
Examples
$10k goal, $2k saved, $400/month, 4%
Starting with $2,000 and contributing $400/month at 4% interest, you'd reach $10,000 in about 20 months.
Inputs
- Savings goal:
- 10000
- Current savings:
- 2000
- Monthly contribution:
- 400
- Annual interest rate:
- 4
Result
- Time to reach goal:
- 20 months (1 year 8 months)
Frequently asked questions
What interest rate should I use?
Use the annual percentage yield (APY) from your savings account. High-yield savings accounts in 2024 often offer 4–5% APY. A standard savings account may offer 0.01–0.5%.
Does this account for taxes on interest?
No. Interest earned in a regular savings account is taxable income. For a more accurate projection, reduce the interest rate by your marginal tax rate (e.g. 4% × (1 − 0.22) ≈ 3.1% after-tax).
What if I miss months or contribute unevenly?
The math assumes steady monthly deposits. Lumpy contributions change the path slightly because less principal earns interest early. Re-run with your actual average contribution when planning.
Should I include employer match in the monthly number?
Yes for retirement accounts if match vests predictably — it is part of your savings rate. For pure emergency-fund goals, exclude match since it may be locked in a 401(k).