Have a target in mind, like a down payment, a car or a trip? Enter the goal, what you have already saved, when you need it and the interest you expect to earn, and see how much to set aside each month.
Save this much each month
$0
- Number of months
- Total deposits
- Interest earned
Estimate only, not tax or financial advice. It assumes a fixed rate compounded monthly and deposits at the end of each month, before any tax on interest. Savings rates change.
How this works
Your current savings grow at the monthly rate until the deadline; the remaining gap is covered by equal monthly deposits using the standard future-value-of-payments formula.
Sources
This calculator uses standard time-value-of-money math and no official figures. By Fintrovert.