Monthly Savings for a Goal
Work backward from a savings target to the equal month-end contribution needed, accounting for an existing balance and modeled growth.
How to use Monthly Savings for a Goal
- Enter “Target balance”, using the units and limits shown in its label.
- Enter “Current balance”, using the units and limits shown in its label.
- Enter “Nominal annual return (%)”, using the units and limits shown in its label.
- Enter “Months until goal”, using the units and limits shown in its label.
- Select Calculate or Process. Review the result and any validation message before copying or downloading available output. Reset clears the result and restores the starting inputs.
Method & assumptions
Payment = max(0, target − current×(1+i)^n) ÷ (((1+i)^n−1)/i); at i=0 divide the gap by n.
Worked example
With no current savings or growth, reaching 12000 in 12 months requires 1000 per month.
Results and projections are informational estimates, not financial, medical, legal, tax, or property advice. Check assumptions, units, rounding, and local requirements independently. Investment illustrations do not guarantee returns. Keep original files and check transformed output before use.
Questions, answered
What if existing savings already reach the target?
The required extra monthly contribution is zero. The tool does not recommend withdrawing a surplus.
Where does this calculation run?
It runs locally in your browser. Enter plain numbers without currency symbols or thousands separators; use the same currency and measurement units throughout unless a converter explicitly asks for units.