Calcs4All

APR 23 · 2026

Savings goal calculator

Find the monthly deposit needed to hit a savings target from a starting balance and APY.

What this calculator covers

Use this savings goal calculator to estimate the monthly deposit needed to reach a target balance from a current starting amount.

The calculator first checks how much the current balance could become on its own, then solves for the monthly contribution only if a future-value gap remains.

That makes the result easier to audit, especially in cases where the goal may already be funded by the starting balance and compounding alone.

Frequently asked questions

What happens if the calculator shows a required monthly deposit of zero?
It means your starting balance, growing at the stated APY over the full time horizon, is already projected to meet or exceed the target. No additional deposits are mathematically required to reach the goal under those assumptions.
Should I enter the APY my savings account currently offers or an expected future rate?
Use the rate you reasonably expect to earn over the whole period. If rates are uncertain, running the calculation with a conservative lower rate gives a safer monthly savings target to plan around.
Does the calculator account for taxes or fees on the savings account?
No. The projection assumes the full APY accrues without any drag from taxes, account fees, or rate changes. Your actual after-tax, after-fee result will typically be lower.
How is the required monthly deposit different from just dividing the shortfall by the number of months?
A simple division ignores the interest those deposits will earn along the way. The annuity formula used here accounts for compounding, so the required monthly amount is lower than a straight division would suggest whenever the APY is greater than zero.

Tool

Run the calculation

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%
yr

RESULT · REQUIRED MONTHLY DEPOSIT

â„–075

Primary result

$509.75

To reach $100,000.00 from $15,000.00 over 10 years at 4.50% APY, you need about $509.75 per month.

Required monthly deposit
$509.75
Balance without new deposits
$23,294.54
Goal gap
$76,705.46
Equivalent monthly rate
0.3675%

Step-by-step solution

  1. 1.Project the starting balance on its own first: $15,000.00 compounds to $23,294.54 over 120 months.
  2. 2.Measure the remaining future-value gap after that growth. The uncovered goal gap is $76,705.46.
  3. 3.Solve the monthly annuity formula for the deposit required to close that gap, which gives $509.75 per month.

Walkthrough

Visual walkthrough

A savings-goal plan starts by checking what the current balance can do on its own, then solves for the monthly deposit only if more growth is needed.

  1. 01

    Project the starting balance by itself

    $15,000.00 -> $23,294.54

    This isolates the part of the goal that compounding alone can already cover.

  2. 02

    Measure the uncovered target gap

    $100,000.00 - $23,294.54 = $76,705.46

    If the gap is zero, the goal is already funded without additional monthly saving.

  3. 03

    Solve for the monthly deposit

    The remaining gap is spread across the monthly contribution stream that compounds over the same horizon.

    $509.75 per month