Money

Savings Goal Calculator

Estimate the monthly amount needed to reach a savings target.

MyToolPantry.comSavings Goal Calculator

Savings Goal Calculator result

ToolEnter your information below

Savings goal ($)Current savings ($)Whole months to goalNominal annual return, compounded monthly (%)Current monthly contribution ($)Deposit arriving at goal date ($)

Required monthly contribution$464.77Projected with current plan$17,527.17Remaining gap with current plan$2,472.83Current savings projected at goal date$2,254.54Contributions under required plan$16,731.54Estimated growth under required plan$1,268.46Goal amount$20,000.00

Monthly-contribution scenarios

Monthly deposit	Projected value	Remaining gap	Status
$0.00	$2,254.54	$17,745.46	Short
$400.00	$17,527.17	$2,472.83	Short
$500.00	$21,345.32	$0.00	Meets goal
$464.77	$20,000.00	$0.00	Meets goal

The nominal annual rate is divided by 12 and compounded monthly; it is not an APY input. Equal contributions arrive at each month end. The separate future deposit arrives on the goal date, so it earns no modeled return. Worked example: a $20,000 goal, $2,000 current balance, 36 months and 4% nominal annual return requires $464.77 per month. Returns are not guaranteed; fees, taxes, inflation, missed deposits and account restrictions are excluded. Use 0% for a no-growth plan.

Save or exportOptional

Item nameNotes

Project folderSection

No project folder exists yet. Create a project folder first.

Save to projectKeep this result with related tools and data.

My Projects

How this tool works

The projection grows current savings, applies the selected return, and solves for the recurring contribution needed to reach the goal by the target date.

Limits to know

The required contribution assumes the entered return, timing, and horizon. Fees, taxes, inflation, missed deposits, market losses, and changing goals can alter the amount needed.