Ad Space
Finance Calculators
Savings Goal Calculator
Calculate how many months it will take to reach a savings goal given your current savings and monthly contributions.
Months to reach goal
—
Years to reach goal
—
Ad Space — 300×250
About the Savings Goal Calculator
This calculator simulates monthly growth of your savings — adding your monthly contribution and applying interest each month — until the balance reaches your target goal.
Formula: Each month, Balance = Balance × (1 + Monthly Rate) + Monthly Contribution, repeated until Balance ≥ Goal.
Increasing your monthly contribution has a much bigger impact on reaching your goal sooner than a slightly higher interest rate, especially for shorter time horizons.
Ad Space