Savings goal calculator
Turn a savings target into a monthly deposit. Enter the amount you want to have, how much you have saved already, and how many months you have until your deadline.
Edit any line below. Results update as you type. Use the same currency for all monetary amounts.
| @1 | goal = 15000 | |
| @2 | saved = 3000 | |
| @3 | months = 24 | |
| @4 | remaining = max(0, goal - saved) | |
| @5 | monthlySaving = remaining / months | |
| @6 | weeklyEquivalent = monthlySaving * 12 / 52 |
How to calculate a monthly savings target
Subtract current savings from the goal to find the amount still needed, then divide by the number of months available. If you have already reached your goal, the required deposit is zero. The weekly equivalent spreads twelve monthly deposits over 52 weeks.
Assumptions and limits
Use nonnegative savings and goal amounts, and a positive number of months. This worksheet assumes no interest, fees, or withdrawals. The weekly figure is an annualized equivalent; calendar months do not all contain the same number of weeks.
Does this include interest on savings?
No. This worksheet calculates the deposits needed without interest. To explore a hypothetical return with regular deposits, use the investment calculator and enter your own rate.
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