Dated assumptions · transparent formulas
Savings Goal Calculator
Enter a target amount and deadline to solve for the monthly contribution that reaches it, starting from any existing balance.
Educational calculator. Inputs stay in your browser. Historical ranges are not forecasts or investment advice.
Required monthly contribution
$245.71
- Total deposits
- $8,846
- Projected growth
- $654
- Goal in today's dollars
- $9,286
Deposits are modeled at the end of each month with monthly compounding. The result is a mathematical requirement, not a promised return.
| Year | Opening | Deposits | Growth | Closing |
|---|---|---|---|---|
| 1 | $500 | $2,949 | $82 | $3,530 |
| 2 | $3,530 | $2,949 | $216 | $6,695 |
| 3 | $6,695 | $2,949 | $357 | $10,000 |
How the required contribution is solved
The calculator rearranges the future value of an annuity: instead of projecting where fixed deposits land, it solves for the deposit size whose compounded stream lands exactly on the goal. The starting balance grows on its own, and only the remaining gap is covered by contributions.
Each contribution is modeled at the end of every month with monthly compounding. Changing the return assumption changes the required amount nonlinearly: at higher rates, growth covers more of the gap, so the required deposit falls by less than a proportional amount.
Sinking funds, deadlines, and honesty about rates
A sinking fund is exactly this setup: a known future expense, a deadline, and a planned periodic deposit. The tool treats the return as an editable assumption, so a savings-goal plan built on a 4-5% APY behaves very differently from one built on market-range returns.
Check the inflation-adjusted figure before committing: a $10,000 goal reached in ten years buys roughly what $7,800 buys today at 2.5% inflation. Deadlines matter more than precision - revisiting the plan yearly with updated balances keeps it aligned.