NWS Calc

Savings Goal Calculator

How much to set aside each month to hit a target by a given date.

yrs
%
Save each month
$450.00

for 36 months to reach $20,000.00

Target
$20,000.00
Existing savings grow to
$2,818.18
Still needed
$17,181.82
You contribute
$16,200.11
Interest earns
$1,299.89
Show the working
  1. 1Your $2,500.00 grows to $2,818.18 in 3 years at 4%
  2. 2Remaining gap = $17,181.82
  3. 3Monthly deposit to close it = $450.00
Formula
PMT = FV × i ÷ ((1 + i)ⁿ − 1)

How it works

Works backwards from a savings target to the monthly deposit needed, allowing for interest on both your existing balance and each new deposit.

Example

To reach $20,000 in 3 years with $2,500 already saved at 4%, you need about $450/month.

More in Finance & Loans

About the Savings Goal Calculator

How much to set aside each month to hit a target by a given date. It sits in the Finance & Loans section of NWS Calc, a free collection of calculators that run entirely in your browser. There is no signup, no paywall and no tracking — open the page, enter your numbers, get an answer.

Frequently asked questions

Is the Savings Goal Calculator free to use?
Yes. Every calculator on NWS Calc is completely free, with no signup, no usage limits and no ads.
Does my data leave my device?
No. The Savings Goal Calculator runs entirely in your browser using JavaScript. Nothing you type is uploaded, logged or stored on a server.
Can I use the Savings Goal Calculator on my phone?
Yes. The page is fully responsive and works in any modern mobile or desktop browser — there is nothing to install.
What else is in Finance & Loans?
Loans, mortgages, interest, savings and investment returns. You can browse the full Finance & Loans category for related calculators.

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