Savings Goal Calculator

How to Plan Your Savings

Planning your savings means defining a financial goal, setting a deadline, and determining how much you need to save each month. If you also invest your savings at a return rate, compound interest works in your favor and reduces the monthly effort required.

Two Ways to Calculate

Goal mode: Define how much you want to save and by when, and the calculator tells you how much to set aside each month. Projection mode: Define how much you can save per month and discover how much you will have at the end of your chosen period.

Frequently Asked Questions

Where should I keep my savings?

Popular options include high-yield savings accounts, certificates of deposit (CDs), money market accounts, Treasury bonds (T-bills), and index funds. Each option offers different levels of risk and return.

How much should I save each month?

A common guideline is the 50/30/20 rule: allocate at least 20% of your after-tax income to savings and debt repayment. This calculator helps you determine the exact amount based on your specific goal.