Savings Goal Calculator
Tell us your goal and we'll figure out exactly when you'll hit it.
How This Savings Calculator Works
This calculator uses compound interest to project how your savings will grow over time. Each month, interest is calculated on your total balance (including previously earned interest), and your monthly contribution is added on top.
The stacked bar chart shows how your money breaks down between what you contributed directly and what compound interest earned for you. Over longer time horizons, you will see the interest portion grow significantly - that is the power of compounding at work.
Tips to Reach Your Goal Faster
- Increase contributions over time - even small bumps of $25-$50 per month can shave months off your timeline.
- Use a high-yield savings account - the difference between 0.5% and 4.5% APY is significant over a few years.
- Automate your transfers - set up automatic monthly transfers so you never forget to contribute.
- Direct windfalls to savings - tax refunds, bonuses, and other unexpected money can supercharge your progress.