Tools
Savings goal calculator
Set a savings goal — an emergency fund, say — then see how many months it takes to reach it with your contributions, or how much to save each month to get there by a chosen date.
Time to reach the goal
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Total contributed
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Interest earned
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Reach the goal by a chosen date
Required monthly contribution
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Estimates are illustrative only — real terms vary by lender.
Frequently asked questions
How is the number of months calculated?+
We simulate month by month: each month your balance earns interest (annual rate ÷ 12), then your contribution is added. The first month the balance reaches the goal is used. Interest is therefore compounded monthly.
What is the required monthly contribution?+
It is the amount to save each month to reach the goal exactly by the number of months you choose, accounting for your current savings and compound interest. If your current savings already grow enough, the amount can be zero.
How much should I target for an emergency fund?+
A common target is 3 to 6 months of essential expenses. Start small: even a first goal of $1,000 absorbs many surprises. Adjust the target amount to your situation.
Is the interest rate guaranteed?+
No. The rate you enter is an illustrative assumption. Actual returns on a savings account or investment vary and are not guaranteed.
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