Savings Calculator
Plan your savings journey. Calculate how much you can save, how long it takes to reach your goal, or how much you need to save monthly.
Your Details
Enter your savings details and choose what to calculate (future value, monthly deposit needed, or time to goal). Click Calculate to see your results.
Final Balance
$0.00
Goal Achieved!
Final Balance
$0.00
Total Interest
$0.00
Total Deposits
$0.00
Time Period
--
Required Monthly Deposit
$0.00
Savings Growth Over Time
Final Balance Breakdown
Savings Progress
Year-by-Year Breakdown
| Year | Deposits | Interest | Balance |
|---|
Complete User Guide
What This Calculator Does
This savings calculator shows how your money grows with compound interest. You can (1) project a future balance from initial savings and monthly deposits, (2) find the monthly deposit needed to reach a goal by a certain date, or (3) find how long it takes to reach a goal with your current savings rate. Interest is compounded at the frequency you choose (daily, monthly, quarterly, or annually).
Calculation Modes
Future savings value
Enter initial savings, monthly deposit, rate, and years. See your projected balance and total interest.
Monthly deposit needed
Enter initial savings, goal amount, rate, and years. Get the required monthly deposit to reach the goal.
Time to reach goal
Enter initial savings, monthly deposit, goal, and rate. See how many years until you reach the goal.
How to Use
- Choose what you want to calculate (future value, monthly deposit, or time to goal).
- Enter initial savings, and for some modes: monthly deposit, interest rate (APY), years, and/or savings goal.
- Select compound frequency (monthly is common for savings accounts).
- Click Calculate and review the summary cards, growth chart, and year-by-year breakdown.
Compound interest
Each period, interest is earned on the current balance (including past interest). Monthly compounding: rate/12 applied each month. The growth chart shows total balance and total deposits over time; the doughnut shows how much of the final balance came from initial savings, contributions, and interest.
Important Notes
- Results are estimates. Actual rates and returns vary. This is not financial advice.
- APY (Annual Percentage Yield) is the rate used; it already reflects compounding for the year.
Tips
- Pay yourself first: set up automatic transfers on payday.
- Use high-yield savings accounts for better APY.
- Build an emergency fund (3–6 months of expenses) before focusing on other goals.