Savings Goal Calculator
Reverse-engineer your savings plan. Calculate exactly how much to save monthly to reach a specific financial target by your deadline.
About
Most calculators ask "What will I have?". This tool answers the more practical question: "What do I need to do?". Whether saving for a house down payment, a wedding, or a new vehicle, the Savings Goal Calculator works backward from your target FV to determine the required monthly liquidity flow (PMT).
It incorporates a "Feasibility Check" to ground your aspirations in reality. If the required monthly saving exceeds reasonable limits based on typical income brackets or requires impossible interest rates, the tool visually signals the difficulty, encouraging you to adjust the timeline or the target.
Formulas
The formula rearranges the annuity calculation to solve for PMT:
Note: If an initial deposit exists, its future value is subtracted from the Goal FV before calculating the payment.
Reference Data
| Goal Category | Average Cost (USA) | Rec. Timeframe |
|---|---|---|
| Wedding | $30,000 | 1 - 2 Years |
| New Car (Non-Luxury) | $48,000 | 3 - 5 Years |
| House Down Payment (20%) | $85,000 | 5 - 7 Years |
| Emergency Fund | $15,000 | 0.5 - 1 Year |
| European Vacation | $6,000 | 1 Year |