How this calculator works
Enter your target, what you've already saved, your timeline and the interest rate you expect. The calculator grows your existing savings, then solves for the monthly deposit needed to close the remaining gap, including interest earned along the way.
Make it automatic
Set up a recurring transfer for the monthly amount on payday. Name the account after the goal — research on mental accounting suggests labelled savings are less likely to be raided.
Frequently asked questions
What goals work with this?
Any lump-sum goal: down payment, car, wedding, education, travel or an emergency fund.
What rate should I use for short goals?
For goals under about three years, use a savings or deposit rate rather than stock-market returns.
What if the monthly amount is too high?
Extend the timeline, lower the target or add windfalls such as bonuses and refunds.
Results are estimates for educational purposes and depend on the assumptions you enter. They are not an offer of credit or financial advice. Last reviewed October 2026.