Turn a big goal into a monthly number
Whether you're saving for a house down payment, a wedding, a car, or an emergency fund, the hardest part is knowing how much to set aside each month. This calculator does the math backwards from your goal: enter the target amount, what you've saved so far, your expected return, and your timeframe — and it tells you the monthly contribution that gets you there.
Because it factors in growth on your balance, the required monthly amount is often lower than you'd expect.
How to use it
- Savings goal — the total you want to reach.
- Saved so far — your current balance toward this goal.
- Annual return — use ~0.5–5% for a high-yield savings account or CD, higher only if invested.
- Timeframe — how many years until you need the money.
Tips to hit your goal
- Automate it. Set up an automatic transfer for the monthly amount right after payday.
- Match the account to the timeline. Short-term goals belong in safe, liquid accounts; only long-term goals should take market risk.
- Revisit quarterly. Re-run the numbers if your goal, timeline, or rate changes.