Free Calculator
Savings Goal Calculator
This free savings goal calculator tells you how long it will take to hit your savings goal. Enter your goal amount, what you've already saved, and how much you can set aside each month to see your target date, months to go, and total contributions.
How to reach a savings goal faster
Two levers move your target date: how much you save each month and how consistent you are. Automating a fixed transfer on payday is the single most reliable way to hit a goal, because the money moves before you can spend it. Even a small monthly amount adds up surprisingly fast once you can see the finish line.
Where to keep the money
For a goal you will reach within a year or two, a high-yield savings account keeps the cash safe and adds a little interest, enter the rate above to include it. For longer goals, some people invest, though that adds risk. This tool assumes steady monthly deposits.
Prefer it on paper?
Print the free savings goal tracker (PDF) to color in each milestone, or set up sinking funds for several goals at once. See all savings printables.
Frequently asked questions
Is the savings goal calculator free?
Yes. It is free, instant, and needs no signup. All the math happens in your browser.
Does it account for interest?
Yes, if you enter an interest rate or APY it compounds monthly. Leave it blank and the calculator assumes a plain savings account with no interest.
What if I already have some saved?
Enter it in the 'already saved' box and the calculator only counts the amount you still need to reach your goal.
How can I reach my goal sooner?
Increase your monthly amount, automate the transfer on payday, and park the money in a high-yield savings account so it earns a little interest along the way.
Paperthrift provides free educational budgeting tools. This calculator gives estimates only and is not financial advice. For decisions about your specific situation, consider speaking with a qualified professional.