About this calculator
Instead of asking 'how much will I have,' this calculator flips the question around: if you need a specific amount of money by a specific date — a house down payment, a wedding, an emergency fund — how much do you actually need to set aside each month to get there, given a savings account or investment return along the way?
How it works
This is the same compound-growth math as a compound interest calculator, solved in reverse for the monthly contribution instead of the ending balance. The calculator accounts for any amount you've already saved, then works out the level monthly deposit needed so that your existing balance plus all future deposits, growing at your expected rate, reaches your goal by the deadline.
Worked example
Aiming for a $20,000 goal in 36 months, with $2,000 already saved earning 3% a year: that existing $2,000 grows to about $2,188 on its own by the deadline, leaving roughly $17,812 still to raise. Spread over 36 months at the same 3% return, that works out to about $473.46 a month.
Formula cross-checked against: Consumer Financial Protection Bureau — Making a Budget.
Frequently asked questions
What if the required monthly amount seems too high?
Try extending the number of months, lowering the goal, or checking whether a higher-yield savings account or CD could realistically boost your expected return — small rate changes matter less than time, so pushing the deadline back is usually the biggest lever.
Should I use 0% for a regular checking account?
Yes — if the money will sit somewhere that doesn't pay meaningful interest, entering 0% gives you an accurate, conservative monthly target.
Does this assume I save the same amount every month?
Yes, it calculates a single level monthly contribution. If your income is irregular, treat the result as an average target to hit over time rather than a fixed rule for every single month.
Last reviewed: September 2026.