Work backwards from a goal: enter how much you want, what you have now and when you need it, and see how much to put away each month.
How it works
Calcist grows what you've already saved at your chosen return, sees how far short of the goal that leaves you, and finds the monthly deposit that closes the gap, counting the interest those deposits earn along the way.
Monthly deposit = (Goal − Saved × (1 + i)ⁿ) × i ÷ ((1 + i)ⁿ − 1)
To reach $20,000 in 5 years with $2,000 saved and a 4% return, you'd save about $265.44 a month. With no interest at all, it would be $300 a month (18,000 ÷ 60).
Ideas for reaching a goal faster
- Automate it. Set up a transfer for the day after payday so the money moves before you can spend it.
- Use a high-yield account for short-term goals, and compare APYs between banks.
- Save windfalls. Tax refunds, bonuses and gifts can cover months of saving at once.
- Round up. Saving $10 more than the answer each month gives you a cushion for surprises.
How we checked this
Before every update, this calculator is run in a real browser with these known answers, and it must match all of them:
- $20,000 in 5 years from $2,000 at 4% = $265.44/month ✓
- Same with 0% return = $300/month ✓
Last checked October 26, 2026. Spotted something wrong? The math is done in your browser with the formula shown on this page, so you can check any result by hand.
Questions people ask
How much do I need to save each month to reach $10,000 in 2 years?
With nothing saved and no interest, $10,000 ÷ 24 = $416.67 a month. Interest lowers that slightly; enter your rate above.
Should I include interest?
For a savings account, use its APY. For money that might be needed soon, it's safest to assume little or no growth.
What if I already have enough?
If what you've saved will grow to your goal on its own, the calculator shows $0 a month.