Savings Calculator
Calculate how much to save monthly to reach your financial goal. Plan your emergency fund, home down payment, or retirement savings.
About this calculator
The savings calculator helps you create a concrete financial plan for any goal — emergency fund, home down payment, vacation, education, or retirement. It works in two modes: enter a savings goal and timeframe to calculate the required monthly amount; or enter a monthly contribution to see the projected balance over time. For US savers in 2026, top savings options include: high-yield savings accounts (4-5% APY), CDs (certificates of deposit), Treasury bills and I-bonds, and long-term investment accounts (IRA, 401k, brokerage). This calculator lets you compare scenarios by adjusting the interest rate for each product. Key savings benchmarks: emergency fund = 3-6 months expenses; retirement = 15% of income from age 25; home down payment = 20% of purchase price to avoid PMI. The year-by-year growth chart shows how small consistent contributions compound into significant wealth over time.
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Frequently Asked Questions
The 50/30/20 rule recommends allocating 20% of take-home pay to savings and investments. For a $3,000 net salary, that is $600/month. Start with any amount — even $50/month at 5% for 20 years grows to $20,600.