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Budget

Savings Calculator

Project how much you'll have by a future date, how long it'll take to hit a savings goal, or how much to save monthly to hit it by a target date.

Inputs

Use 0 for a plain account with no meaningful growth, or your savings account's APY.

Used when projecting a balance forward or solving for time.

Only used when solving for time or required contribution.

Used when projecting a balance forward or solving for the required monthly contribution.

Result

Projected balance

$9,649.15

Total contributed$9,200.00
Growth from returns$449.15

How the calculation works

Uses the standard savings future-value formula, treating your starting balance and monthly contributions as growing at your expected return, compounded monthly. In 'how much will I have' mode, it projects your balance forward by your chosen timeframe directly. In 'how long' mode, it simulates month by month until the balance reaches your goal. In 'how much per month' mode, it solves the same formula algebraically for the contribution that hits your goal exactly by the target month.

Formula

Future Value = Starting Balance × (1 + r)^n + Monthly Contribution × [((1 + r)^n − 1) ÷ r]. Depending on the mode, this is used directly (projecting a balance), solved for n (time to goal), or solved for the payment (required contribution).

Examples

  • $2,000 starting balance, $300/month, 4% APY, 24 months: how much will I have?

    $9,649.15 projected balance ($9,200.00 contributed, $449.15 growth)

  • $20,000 goal, $2,000 saved, $300/month, 4% return: how long?

    54 months to reach the goal

  • $15,000 goal, $1,000 saved, 3% return, 24-month target: how much per month?

    $564.24/month needed to hit the goal in 24 months

FAQ