How Much Should I Save Each Month for a Goal?
Work backward from a target amount and deadline to find a monthly savings contribution.
$25,000 goal · $5,000 already saved · 3 years
Assumes monthly compounding and end-of-month deposits. The 4% rate is an example, not a forecast or savings-account offer.
Choose the target and deadline together
A useful target has an amount and a date. A larger target or shorter timeline requires more saving each month. If the result is not comfortable, compare a smaller goal, a later deadline, or a larger starting balance before assuming a higher return.
Keep the return assumption realistic
This model uses a constant annual nominal return divided into monthly periods. Actual rates and investment values can change. Run the same target at 0% to see the contribution needed without relying on growth.
- The displayed return is not an APY quote.
- Taxes and account fees can reduce the amount available.
- A return assumption is not a guarantee that the money will be there on your deadline.
Revisit the plan as your balance changes
Replace the starting balance with your actual savings and shorten the remaining time as you progress. This gives you a fresh monthly target. If your starting balance already covers the goal under the assumptions, the calculator shows zero additional saving.
Frequently asked questions
When are deposits made?
At the end of each month. Beginning-of-month deposits would have slightly more time to earn interest.
Can I use a partial year?
Yes. Enter 1.5 for eighteen months, for example. Sumvoro rounds the timeline to whole months.