Savings Goal Calculator

Turn a dream number into a monthly habit. Enter your target, your deadline and the return you expect to earn — the calculator tells you exactly how much to put away each month.

How to use this calculator

Enter your target amount — down payment, emergency fund, wedding, sabbatical.
Enter when you need it and the return you'll realistically earn.
Add anything already saved toward it.
Press Calculate — the monthly figure is your new autopay amount.

Formula used

M = FV × i ÷ [((1 + i)ⁿ − 1) × (1 + i)]

The SIP formula solved backwards: instead of asking what a monthly amount grows into, it asks what monthly amount produces a chosen future value. i = annual return ÷ 12, n = months.

Example calculation

Worked example

Target 1,000,000 in 5 years at 8% expected return:

Required saving = 13,520/month. You'd deposit about 811,180 total; growth contributes the remaining ~188,820. At 0% (cash under the mattress) you'd need 16,667/month.

Goal-based saving works

Vague intentions ("save more") fail; specific systems ("13,500 auto-transferred on the 1st") succeed. Working backwards from a target converts an intimidating number into a decision-sized monthly action — and shows honestly whether the timeline is realistic before you start.

Match the vehicle to the horizon: goals under 3 years belong in FDs/RDs where the amount is certain; 5+ year goals can harness equity returns, cutting the required monthly amount significantly.

Why use this calculator?

Convert any financial goal into one actionable monthly number.
See how much heavy lifting investment returns do versus your deposits.
Test timelines — discovering a goal needs 2 more years is better known now.

Frequently asked questions

What return should I assume?

Match your instrument: ~0% cash, 6–7% FDs/RDs, 7–8% conservative hybrid funds, 10–12% long-term equity. For short timelines use conservative rates — there's no time to recover from a bad market year.

Should I save monthly or invest a lump sum?

If you have the lump sum, investing it now generally wins (more time compounding). Most goals, though, are funded from income — and this calculator's monthly figure is designed exactly for that reality.

What if I can't afford the required monthly amount?

Three honest levers: extend the timeline, reduce the target, or accept more investment risk for higher expected returns (only for long horizons). Saving something smaller still beats abandoning the goal.