Savings Goal Calculator
Find out how much you need to save, or how long it will take to reach your savings goal with a fixed contribution.
To reach $10,000.00 in 2 years, save $375.00 monthly.
| Period | Balance | Contributed |
|---|---|---|
| 0 | $1,000.00 | $1,000.00 |
| 1 | $1,375.00 | $1,000.00 |
| 2 | $1,750.00 | $1,375.00 |
| 3 | $2,125.00 | $1,750.00 |
| 4 | $2,500.00 | $2,125.00 |
| 5 | $2,875.00 | $2,500.00 |
| 6 | $3,250.00 | $2,875.00 |
| 7 | $3,625.00 | $3,250.00 |
| 8 | $4,000.00 | $3,625.00 |
| 9 | $4,375.00 | $4,000.00 |
| 10 | $4,750.00 | $4,375.00 |
| 11 | $5,125.00 | $4,750.00 |
| 12 | $5,500.00 | $5,125.00 |
| 13 | $5,875.00 | $5,500.00 |
| 14 | $6,250.00 | $5,875.00 |
| 15 | $6,625.00 | $6,250.00 |
| 16 | $7,000.00 | $6,625.00 |
| 17 | $7,375.00 | $7,000.00 |
| 18 | $7,750.00 | $7,375.00 |
| 19 | $8,125.00 | $7,750.00 |
| 20 | $8,500.00 | $8,125.00 |
| 21 | $8,875.00 | $8,500.00 |
| 22 | $9,250.00 | $8,875.00 |
| 23 | $9,625.00 | $9,250.00 |
| 24 | $10,000.00 | $9,625.00 |
Tips
Set realistic goals and review your progress regularly.
Automate your savings to stay on track.
Consider the impact of interest rates on your savings plan.
Start early—time is your best friend when saving for a goal.
Break large goals into smaller milestones to stay motivated.
FAQ
How is the required savings per month calculated?
Can I include interest in my savings plan?