Monthly Savings Needed Calculator
Work out the exact amount to set aside each month to hit any savings goal. Free calculator, runs in your browser.
Monthly savings targets are worked out in your browser; your goals and balances never leave your device.Try: Target amount=10000, Already saved=2000, Months left=24 → $10,000.00, $2,000.00, 24, $333.33
How to use
Enter your target amount, what you have already saved, and how many months you have. Press Calculate — the math runs entirely in your browser, nothing is uploaded.
I use this when a goal feels too big to start. Seeing one concrete monthly number turns "save for a bike" into "move $40 every Friday," which is far easier to actually do.
FAQ
How do I use the monthly savings result?
Take the "Save per month" figure and set up an automatic transfer for that amount on payday. Automatic transfers are the simplest way most people actually stick to a plan.
Should I count money already in the account?
Yes — enter it under "Already saved". The calculator only asks you to cover the gap between what you have and your target, so existing savings lower your monthly number.
What if my goal date moves?
Shorten the months and the monthly amount rises; lengthen them and it falls. Re-run whenever your deadline changes — it takes a few seconds.
Is this the same as a sinking fund?
It can be. A sinking fund is just a savings goal for a known future bill, and this calculator works for it. The dedicated Sinking Fund page frames it that way.
— By Morgan Lee, budgeting writer