Find the monthly deposit needed to reach a savings target by a target date.
Find the monthly deposit needed to reach a savings target by a target date.
Enter values above and click Calculate — results will appear here with the formula explained.
Reaching a savings goal comes down to three variables: how much you need, when you need it, and what your money earns meanwhile. Rearranging the future-value formulas solves directly for the missing piece — the required monthly deposit.
Interest lightens the load because part of the goal is met by growth on money already saved. At higher rates or longer horizons, growth covers a bigger share; at zero percent, the answer collapses to simply dividing the shortfall by the number of months.
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Reaching a savings goal comes down to three variables: how much you need, when you need it, and what your money earns meanwhile. Rearranging the future-value formulas solves directly for the missing piece — the required monthly deposit. Formula: C = (Goal − Current·(1+i)ᵐ) ÷ (((1+i)ᵐ − 1)/i), with i the monthly rate and m the months
Savings Goal Calculator computes find the monthly deposit needed to reach a savings target by a target date. Formula: C = (Goal − Current·(1+i)ᵐ) ÷ (((1+i)ᵐ − 1)/i), with i the monthly rate and m the months. Example: To turn $2,000 into.
Find the monthly deposit needed to reach a savings target by a target date. Formula: C = (Goal − Current·(1+i)ᵐ) ÷ (((1+i)ᵐ − 1)/i), with i the monthly rate and m the months
| Field | What to enter |
|---|---|
| Savings goal ($) | e.g. 20000 |
| Current savings ($) | e.g. 2000 |
| Time to reach goal (years) | e.g. 3 |
| Annual return (optional) (%) | e.g. 4 |
All fields use the exact formulas shown below — results include step-by-step breakdowns you can verify by hand.
Reaching a savings goal comes down to three variables: how much you need, when you need it, and what your money earns meanwhile. Rearranging the future-value formulas solves directly for the missing piece — the required monthly deposit.
Interest lightens the load because part of the goal is met by growth on money already saved. At higher rates or longer horizons, growth covers a bigger share; at zero percent, the answer collapses to simply dividing the shortfall by the number of months.
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To turn $2,000 into $20,000 in 3 years with no interest you'd save $500/month. At 4% APY, growth contributes about $1,376, cutting the requirement to roughly $462/month.
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