Saving tool · Free · No email required
Savings Goal Calculator
A goal without a date is a wish. Enter the target — emergency fund, house deposit, first $10,000 — with what you have and what you can add monthly, and get the exact month you'll arrive.
Time to your goal
21 mo
you arrive in July 2028
Starting point
15.0% of $10,000 already saved
Assumes deposits at month-end and a steady APY from an FDIC-insured high-yield savings account. Rates float; re-run the numbers when they move.
Earning almost nothing on that savings balance? Read the high-yield accounts guide.
How the math works
Each month, your balance earns interest at one-twelfth of the APY, then your deposit lands. We simulate month by month until the balance crosses your goal — which is exactly how a real savings account behaves, down to the month interest is credited.
Two levers shorten the timeline more than people expect. Rate: moving cash from a 0.4% big-bank account to a 4.5% high-yield account adds meaningful free dollars each year. Sequence: automating the deposit for the day after payday reliably beats intending to save what's left — because there's never anything left.
Building an emergency fund? Aim for three months of essential expenses first, six if your income is single or variable. Our staged guide walks the fastest realistic path, including where to park it.
Frequently asked questions
Where should I keep goal-based savings?
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For goals under five years — emergency funds, deposits, trips — a high-yield savings account at an FDIC-insured bank: liquid, insured, and currently paying 4%+. Don't invest short-term money in stocks; the market doesn't care about your deadline.
How much should I save each month?
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The 50/30/20 budget points at 20% of take-home pay as the target across goals and investing. If that number feels impossible today, start at whatever survives automation — even $75 — and raise it with every pay increase. Direction beats magnitude in year one.
What if the calculator says my goal is out of reach?
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Then the plan, not the goal, needs adjusting: raise the monthly deposit (a small side income works wonders — even $250/month), pick a nearer interim target, or give the timeline more months. A 36-month plan you follow beats a 12-month plan you abandon.
The full toolkit