Vertoq
Savings Goal Calculator
Enter your savings goal, current savings, time horizon, and expected return to see how much you need to save each month.
What this calculator solves
Instead of asking how much a savings amount grows to, this calculator flips the question: how much do you need to save each month to reach a specific goal within a certain time? It accounts for both your current savings and the return you expect along the way.
How it's calculated
The calculator first works out what your current savings grow to on their own, then solves for the monthly amount needed to cover the gap:
PMT = (Goal − Current×(1+r)^n) × r / ((1+r)^n − 1)
r is the monthly interest rate and n is the number of months. If your current savings already reach the goal on their own at the given return, a message is shown instead of a negative savings amount.
Limitations
Like the savings calculator, the result relies on a constant return you provide, which rarely holds exactly in reality. Tax and inflation aren't factored in, and the result should be treated as a guideline for how much to set aside, not a guarantee of hitting the goal on exactly the stated date.
Frequently asked questions
What if I already have enough saved?
Then a message is shown instead of a number, your current savings already reach the goal at the return you entered, no further monthly savings needed.
What happens if I lower the expected return?
The required monthly amount goes up, because a lower return does less of the work for you and you need to contribute more yourself.
Can I use this for any savings goal?
Yes, the calculator works generically from amount, time, and return, whether the goal is a down payment, a trip, or an emergency fund.