Savings Goal Calculator — How Much to Save Each Month
Future Value
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Total Principal
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54.5%
Total Interest
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45.5%
| Year | Principal (cumulative) | Interest (cumulative) | Balance (nominal) |
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This tool is for informational purposes only and does not constitute financial or investment advice. Consult a qualified professional for important financial decisions.
The annual rate used here is a fixed assumption. Actual returns vary with market conditions and principal loss is possible.
This is a simplified calculation that does not account for taxes, fees, exchange rates, or return variability.
Inflation-adjusted figures assume a constant inflation rate and are only an approximation; actual price changes will differ.
Your input is never sent to a server. All calculations run locally in your browser.
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How to use
Enter your starting amount, monthly contribution, interest rate, and time horizon to see how your savings grow. Switch to Goal Mode to find how much to save each month for a target.
Savings Mode: see future value
Enter an initial amount, monthly contribution, annual rate, and number of years. The calculator instantly shows your projected future value, with a breakdown of principal (money you put in) vs. interest (money earned).
Goal Mode: reverse-calculate monthly savings
Enter a target amount, time horizon, and interest rate. The calculator tells you how much you need to save each month to reach your goal.
Compounding frequency, inflation, and currency
Choose monthly or annual compounding. Add an inflation rate to see the real (purchasing-power-adjusted) value of your future savings. Select your currency to format the numbers appropriately.
What is compound interest?
With simple interest, you earn interest only on your original principal. With compound interest, you earn interest on both your principal and the interest you've already earned — so your money grows faster over time. The longer you save and the higher the rate, the bigger the difference becomes.
Monthly compounding means interest is added every month, so each month's interest itself starts earning more interest. Annual compounding applies interest once a year. Monthly compounding generally produces a slightly higher result.
Reading the chart
The stacked bars show how much of your balance is principal (the money you put in) and how much is interest (the money your savings earned). As time goes on, the interest portion grows — this is compound interest at work. If you enable the inflation adjustment, you can switch between the nominal value (the face amount) and the real value (what that amount is worth in today's purchasing power).
How to think about a savings goal
Start with a target amount and a deadline. Use Goal Mode to find the monthly savings needed. If the required amount is too high, you can extend the time horizon, accept a higher interest rate assumption, or adjust the target. This tool helps you explore the numbers — actual results will differ based on market conditions and other factors.
Assumptions and limitations
This calculator uses a fixed annual interest rate and assumes monthly contributions are made at the end of each month. Taxes, management fees, exchange rates, and return variability are not considered. The inflation adjustment assumes a constant inflation rate. These are simplifying assumptions — actual results will differ. This tool is not financial advice.
Examples
Example 1: Monthly contributions with compound interest
Start with no initial amount, contribute 300 per month, annual rate 5%, for 20 years with monthly compounding. The result shows how much of the total comes from your contributions and how much from compound interest over time. (Substitute your own currency.)
Example 2: Goal Mode — how much to save each month
You want to accumulate 100,000 over 10 years with an initial amount of 0 and a 4% annual rate. Goal Mode calculates the required monthly contribution to reach that target.
Example 3: Inflation-adjusted real value
With a 2% annual inflation rate, the real (purchasing-power-adjusted) value of your future savings will be lower than the nominal figure. This example shows the gap between what your money is worth in nominal terms vs. today's value.
These are illustrative examples using generic amounts. Replace the numbers with your own situation. This is not a recommendation or guarantee.
Frequently asked questions
- How does this calculator compute future value?
- It runs a month-by-month simulation: each month, interest is applied to the current balance (monthly compounding) or once a year (annual compounding), then the monthly contribution is added at month-end. This is the standard annuity-immediate (end-of-period) approach.
- What is the difference between compound and simple interest?
- Simple interest is calculated only on the original principal. Compound interest is calculated on the principal plus any accumulated interest, so your balance grows faster over time — especially over long periods.
- What is Goal Mode?
- Goal Mode lets you set a target amount and time horizon. The calculator works backward to find the monthly contribution needed to reach your goal. If your initial amount alone is projected to reach the goal, it will tell you no monthly contribution is needed.
- What is the inflation-adjusted (real) value?
- Future money has less purchasing power than today's money due to inflation. The real value discounts the future balance by the assumed annual inflation rate to express it in today's terms. This is a simplified estimate assuming a constant inflation rate.
- Does it include taxes or fees?
- No. This is a simplified calculation. Taxes, management fees, exchange rates, and return variability are not included. Actual results may be lower.
- Is my data sent to a server?
- No. All calculations happen entirely in your browser. Your financial data is never uploaded to any server.
- Is this financial advice?
- No. This tool provides general information and calculations only. It is not financial, investment, or tax advice. Actual returns vary and principal loss is possible. Please consult a qualified professional for important financial decisions.
- Which currencies are supported?
- You can choose from major currencies (USD, EUR, JPY, GBP, CNY, KRW, BRL, and more). The calculation is currency-independent — the numbers are the same regardless of currency. Only the display formatting changes.