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Savings goal planner: how much to save each month

Pick a goal, such as a car, college, a trip or a home down payment. The calculator adjusts the price for inflation, shows how much to save each month, compares returns and checks how several goals fit in one budget.

Educational simulation. Not investment advice. Results are estimates based on the data you enter and do not replace advice from a qualified professional.

Reviewed on Oct 31, 2026
Your goal

Where to keep the money

Rates stay constant over the period. The tax is charged on the earnings at withdrawal; type 0% for a tax-free account.

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—Save each month
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The path to your goal

Balance after tax, month by month, saving the suggested amount, against the goal adjusted for inflation.

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Monthly saving at different returns

Monthly amount needed to reach the same goal in the same time, after tax, depending on how much the money earns.

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What if you save more or wait longer?

How much you end up with, after tax, with other monthly amounts and periods, and what share of the goal that is. The center is the suggestion; tap a cell to center on it.

goal reachedshort· net total and % of the goal

Several goals on one budget

List your goals in order of priority. The budget funds the top one first; goals that do not fit show the new possible deadline.

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Month by month

Next step

Take this page’s results to another calculator with the fields already filled in.

Plan college savings in detail →Build a monthly budget →

The summary lists your inputs, results, formulas, assumptions and sources. The full report also includes the charts and interpretations, in color. In the print dialog, choose Save as PDF.

Method, assumptions and sources

Formulas

Adjusted goal = cost today × (1 + inflation)^(months/12)
Net factor for h months = (1 + i)^h − [(1 + i)^h − 1] × tax rate
Monthly deposit = (adjusted goal − already saved × factor(N)) ÷ Σ factor(N − k + 1), k = 1…N (deposits at the start of each month)
College: fund = Σ tuition(k) ÷ (1 + net monthly return)^k

Assumptions and limits

  • Constant-rate simulation: past or projected returns do not guarantee future results. Rates and inflation may change over the period.
  • Deposits at the start of each month and constant rates. Tax is one rate on the earnings, charged at withdrawal; fees must be taken out of the return you type.
  • College: the fund needed when classes start equals the present value of all tuition payments, discounted at the net return.
  • Several goals: the budget funds goals in list order; the new deadline is the shortest one that fits the money left.

Official sources and references

Frequently asked questions

What does this goal planner do?

It tells you how much to save each month to reach a goal on a given date, after adjusting the price for inflation and taking out tax on the earnings. It also compares different returns, tests other amounts and deadlines and checks whether several goals fit in one monthly budget.

Where do I get each number?

The cost today comes from a quote or price list. For inflation of the goal, use general inflation or the price trend of that item. For the yearly return, use the rate your savings account, certificate of deposit or government bill actually pays, and for the tax, the rate that applies to interest where you live.

How do I read the default example?

A $30,000 car in 36 months, with $3,000 already saved, 3% inflation and 4.5% a year with 15% tax on earnings, becomes a goal of about $32,782. The suggested deposit is about $771 a month: $30,747 comes from your pocket over the period and about $2,034 from earnings, after tax.

Why adjust the goal for inflation?

Because prices rise. If you aim at today’s price, you will be short on the date. The calculator grows the price by the inflation you enter and plans the deposits for that future amount.

How big should an emergency fund be?

A common rule of thumb is 3 to 6 months of essential expenses, or 6 to 12 if your income is irregular. Keep it in an account you can access any day, not in stocks. Use the “Emergency” option to plan it.

What are the limits of this simulation?

Rates and inflation stay constant, deposits happen at the start of each month and tax is a single rate charged on earnings at withdrawal. Real returns change, fees reduce them and tax rules vary by country and account type.

When should I talk to a professional?

For large or long goals, such as college for your children or a home down payment, a certified financial planner can help you combine accounts, tax-advantaged plans and deadlines. This calculator is a planning aid, not personalized advice.

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How to plan a savings goal

A well-planned goal has three numbers: how much it costs, when you want it and how much to save each month. The most common mistake is forgetting inflation: a car that costs $25,000 today will cost more in three years, and the plan has to aim at the future price.

Step 1: adjust the price for inflation

Future value = today’s value × (1 + inflation)years. With 3% yearly inflation, $25,000 becomes about $27,318 in 3 years.

Step 2: work out the monthly deposit

With the money earning 4.5% a year, saving about $708 a month for 36 months reaches $27,318 before tax. With no return at all, it would take $759 a month. The difference is interest working for you, and it grows with longer deadlines.

Where to keep the money for each goal

Time to the goalSuitable options
up to 1 year, or an emergency fundhigh-yield savings account, money market fund
1 to 3 yearscertificates of deposit or short government bills that mature near the goal date
more than 3 yearsinflation-protected government bonds or a conservative mix maturing near the goal

Avoid keeping short-term goals in stocks or long bonds: a drop in price close to the date can delay your plan.

Several goals on one budget

Rank your goals by priority and deadline. First the emergency fund, then goals with a fixed date (college, a wedding), and last the flexible ones (a new car, a trip). If everything does not fit, it is better to push back a flexible goal than to stop saving for the important one.