Savings Goal
Find out how long it takes to reach a savings target with monthly contributions
Balance = (2000 × (1 + r)n) + 300 × ((1+r)n−1)/r ≥ 10000
Months to reach goal
26
Years to reach goal
2.2
Total contributions
$7,800
Interest earned
$514.59
Projected date
June 2028
About this calculator
The Savings Goal Calculator shows how long it will take to reach any savings target given your current balance, monthly contributions, and interest rate. Whether you're saving for a car, vacation, emergency fund, or down payment, see exactly when you'll hit your goal and how much interest accelerates the timeline.
Common examples
- Goal $10,000, starting $0, $300/month at 4% → reached in approx. 30 months
- Goal $20,000, current $5,000, $500/month at 2% → reached in approx. 28 months
- Down payment $50,000, starting $10,000, $1,000/month at 3% → reached in approx. 37 months
- Emergency fund $15,000, starting $2,000, $400/month at 1.5% → reached in approx. 32 months
- Vacation fund $5,000, starting $1,000, $200/month at 5% → reached in approx. 19 months