Savings Goal Calculator
United States Uses U.S. IRS retirement-account and federal deposit rules. Figures are in U.S. dollars.
Savings goal calculator: how much to save each month at your rate and the national average, with the goal grown for inflation and the time your amount takes.
Educational estimate only. Not a lending decision. Your numbers stay in this browser.
Results
How to read this: the verdict describes how much room your numbers leave, not a decision or an offer. Change any input to see how much the result moves.
Investing and retirement guides
These guides explain compounding, contribution projections, retirement targets, inflation, and real returns.
- Compound interest explained
- Investment return with contributions
- Retirement savings target
- Inflation and real returns
For all guide topics, open Guides. For source and estimate boundaries, read Calculation Methodology and Sources and Assumptions.
Assumptions and formula
The monthly amount is the end-of-month deposit that, with what you have now, grows to the goal by the date, with interest compounded monthly at the rate that gives your APY. The same goal is worked out at the FDIC national average savings rate and at 0%, so you can see what your rate is worth.
The national average savings rate is 0.37% (FDIC National Rates and Rate Caps, 21 September 2026). A goal in today’s prices is grown at the inflation rate you enter, by default the latest 12 months of the BLS consumer price index, 3.40%. With a monthly amount entered, the months are counted until the balance reaches the goal, which keeps rising with inflation if it is in today’s prices.
Worked example
To reach $30,000 in 5 years from $5,000 at a 4% APY you need $361 a month: $26,684 of your own money and $3,316 of interest. At the 0.37% national average it is $411 a month, and with no interest $417. If $30,000 is today’s price, at 3.40% inflation the goal is $35,453 and the monthly amount $444. Saving $400 a month gets to $30,000 in 55 months.
Monthly savings needed to reach common goals
The deposit needed each month to reach a goal from a standing start, with interest compounding at a 4.00% APY and the deposit made at the end of each month. That is the same method the calculator uses.
| Goal | 1 year | 3 years | 5 years | 10 years |
|---|---|---|---|---|
| $5,000 | $409 | $131 | $76 | $34 |
| $10,000 | $818 | $262 | $151 | $68 |
| $25,000 | $2,046 | $655 | $378 | $170 |
| $50,000 | $4,092 | $1,311 | $756 | $341 |
| $100,000 | $8,184 | $2,622 | $1,511 | $682 |
Over a year or two, the interest rate barely matters: almost all of the goal comes from your own deposits, so the monthly figure is close to the goal divided by the number of months. Over ten years the interest does more of the work, and the rate you earn starts to change how much you need to set aside. A rate well below 4%, such as the national average savings rate shown in the sources, pushes the figures toward that simple division.
Two things move a goal more than the rate does. The first is starting earlier: spreading the same goal over more months lowers each deposit directly. The second is inflation. A goal priced in today's dollars, such as a car or a house deposit, will probably cost more by the time you get there, so the calculator lets you grow the target by an inflation rate rather than aim at a fixed number.
Common mistakes to avoid
- Setting the goal in today’s prices for something years away. A $30,000 car in five years at 3% inflation costs about $34,800, so grow the target before working out the deposit.
- Keeping long-term goal money in a low-rate account. At the national average savings rate the interest barely matters; a high-yield account or, for goals more than five years out, a diversified investment can do much more of the work.
- Counting money already set aside for something else. An emergency fund is not a house deposit; keep separate goals in separate accounts so one does not quietly eat the other.
Frequently asked questions
How much does the interest rate change my monthly savings?
For $30,000 in five years, $361 a month at 4% against $411 at the 0.37% national average: $3,000 more of your own money over five years.
How much do I need to save each month to reach my goal?
To reach $30,000 in 5 years with $5,000 already saved, about $361 a month at a 4% APY, or $417 a month with no interest.
Does a high-yield savings account make much difference?
Yes. In the same example the 0.37% national average needs $411 a month against $361 at 4%: $50 a month, or $3,000 over five years.
Should my savings goal include inflation?
For goals priced today, yes. A $30,000 car in five years at 3.4% inflation costs about $35,450, which raises the monthly amount to $444.
How long will it take to reach my savings goal?
Enter the amount you can save each month. Saving $400 a month from $5,000 at 4% reaches $30,000 in 55 months.
What is the national average savings rate?
0.37% a year in September 2026 (FDIC). High-yield online savings accounts have paid around 4%.
Is this a monthly savings calculator?
Yes: a savings goal calculator and monthly savings calculator that shows how much to save each month, and a savings calculator for any target.
Sources
Sources reviewed 4 October 2026: checked against their current editions on that date.
- FDIC, National Rates and Rate Caps, 21 September 2026: national average savings rate 0.37%.
- U.S. Bureau of Labor Statistics, CPI-U: 12-month inflation to August 2026, 3.40%.
This page is an educational estimate, not personal financial or tax advice. Eligibility and individual circumstances can change the result.