Savings Goal Calculator
Name the goal and the deadline; the calculator returns the exact monthly deposit that lands you there, crediting what your starting amount grows into on its own.
From a wish to a standing order
A goal with a date becomes arithmetic: the target, minus what your starting money grows into on its own, divided out over the months at the account's yield. The answer is the deposit that makes the plan true — small enough to automate, specific enough to judge.
Monthly deposit = (goal − start × (1 + APY)years) ÷ annuity factor at the monthly APY rate
Example: a $50,000 goal in 8 years, starting with $5,000 at 4% APY: the start grows to about $6,843, leaving $43,157 to build — a deposit of roughly $411 a month. Start a year earlier and the same goal needs about $356 — the page's result shows your own version of that trade.
The deposit is a floor, not a hope
Because the yield is credited inside the calculation, the printed deposit is the exact amount that lands on the goal if the APY holds. Miss months and the date moves; earn less than the APY and the deposit must rise. Recheck yearly — a five-minute recalibration beats a year-five surprise.
How this is calculated
The starting amount is grown at the APY for the full term. The gap is then amortized as a level monthly deposit using the APY's exact monthly equivalent rate ((1 + APY)^(1/12) − 1), deposits at month end. The 'start a year earlier' line re-runs the identical problem with twelve more months, for scale.
Frequently asked questions
What if I have no starting amount?
Enter 0 — the goal is then built entirely from deposits, and the monthly figure is correspondingly larger. Many goals start exactly there.
Should the goal be in today's money or future money?
Future money: if the goal is a house deposit or a car at future prices, aim at the future price. The inflation calculator can translate a today's-price goal into its future figure.
My APY is variable — how do I plan?
Use a conservative APY (a point below today's, say) so the plan survives a rate cut, and treat any upside as acceleration. Plans built on best-case yields fail on schedule.
Is monthly saving always the right rhythm?
Match the deposit to your pay rhythm — biweekly earners often do better with biweekly deposits, which this monthly figure can be split to approximate (monthly × 12 ÷ 26 per paycheck).
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