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Savings Goal Calculator
Calculate how many months it will take to reach your savings goal based on monthly deposits, interest and current savings.
How is the time to reach a savings goal calculated?
The calculator solves the future-value formula for regular monthly deposits: FV = P·((1+r)n − 1)/r, where P is the monthly deposit, r the monthly rate and n the number of months. Given your target, it finds n — the months required.
What affects the time to goal?
Monthly deposit size — the dominant factor over short horizons.
Annual rate of return — matters most over long horizons thanks to compounding.
Existing savings — money already saved earns interest from day one.
The model assumes end-of-month deposits and a constant rate — real returns vary year to year.
💡 Useful Tips
Start early — compounding makes an extra year of saving worth more than a bigger deposit later.
Compare savings vehicles with higher rates — the difference compounds.