Savings Goal Calculator
Calculate monthly savings to reach your desired amount
Your Savings Plan
Plan Your Savings – Achieve Your Financial Goal
Setting a savings goal is the first step toward a strong financial future. Whether you’re saving for a vacation, a new car, emergency fund, or even a home, a clear savings plan sets you up for success. CalculatorBud's Savings Goal Calculator is a free online tool designed to tell you exactly how much to put away every month to reach your target—no guesswork, just smart financial planning!
How Does the Savings Goal Calculator Work?
This calculator lets you:
- Set your savings target (total amount you want to save)
- Enter your current savings
- Choose your expected or actual interest rate (optional)
- Select how many months to reach your goal
It then instantly tells you the exact amount you need to save monthly. If your money earns interest, your monthly amount goes down—the calculator uses the same formulas as financial planners and banking apps.
Monthly Savings Formula
No Interest: (Goal − Start) / Months
With Interest: PMT = [FV − PV(1+r)n] × r / [(1+r)n − 1]
No Interest: (Goal − Start) / Months
With Interest: PMT = [FV − PV(1+r)n] × r / [(1+r)n − 1]
Example: Saving for a Dream Vacation
| Goal | Current Savings | Months | Interest Rate | Monthly Save |
|---|---|---|---|---|
| $3,000 | $500 | 18 | 2.4% (annual) | $137.54 |
| $10,000 | $0 | 36 | 0% | $277.78 |
Why Use a Savings Goal Calculator?
- Visualize exactly how much to save each month
- Prioritize multiple goals and adjust pace as needed
- Includes interest, making your plan more realistic
- No spreadsheets—get results and advice instantly
- Share your plan with family or friends to stay motivated!
Pro Tip: Set up automatic monthly transfers—research says "automatic saving" leads to 7x better results!
Frequently Asked Questions
- Can I use this calculator for emergency funds or home savings? Yes! It works for any financial goal or time frame.
- Does it account for compounding interest? Yes, just enter your annual rate and the calculator works out your monthly interest!
- What happens if I want to reach my goal faster? Just adjust the months and recalculate—see how monthly savings change in real time.
- Is this calculator free? 100% free. Use and share as much as you like.