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Savings Goal Calculator | Track Your Financial Goals 2026

Track your savings goals and calculate time to reach your target

$

Your target savings amount

$

Amount you already have saved

$

How much you can save each month

%

High-yield savings: 4-5%, Regular savings: 0.5%

Time to Reach Goal

With consistent monthly contributions

N/A

Interest Earned

Extra money from compound interest

$0.00

How to Use This Savings Goal Calculator

This free savings goal calculator shows you exactly how long it will take to reach your financial target. Whether you're saving for an emergency fund, vacation, or down payment, this tool accounts for compound interest to give you an accurate timeline.

  1. Set your goal: Enter the total amount you want to save.
  2. Add current savings: Include what you already have.
  3. Enter monthly contribution: Be realistic about what you can save consistently.
  4. Set interest rate: High-yield accounts offer 4-5% APY.

Who Is This Savings Goal Calculator For?

  • Emergency fund builders: Calculate time to 3-6 months of expenses.
  • Vacation savers: Plan and track your travel fund.
  • Down payment planners: Reach your home buying goal.
  • Parents: Save for education, camps, or activities.
  • Debt-free goal setters: Build savings after paying off debt.

Best High-Yield Savings Accounts (2026)

AccountAPYMinimumBest For
SoFi Savings4.50%$0No minimum, easy app
Marcus by Goldman4.40%$0Trusted brand, no fees
Ally Bank4.25%$0Best overall features
Capital One 3604.25%$0Branch access available

Savings Goal Calculator FAQs

How much should I save each month?

Financial experts recommend saving 20% of your income using the 50/30/20 rule (50% needs, 30% wants, 20% savings). However, any amount is better than nothing. Start with $50-100/month and increase as you can.

How long will it take to save for my goal?

Divide your goal by your monthly savings contribution. For example, a $10,000 emergency fund at $500/month takes 20 months. Our calculator factors in interest to give a more accurate timeline.

What is a good emergency fund amount?

Aim for 3-6 months of essential expenses. If you have irregular income (freelance, gig work), target 6-12 months. Calculate your monthly essentials (rent, utilities, food, insurance) and multiply.

Should I save or pay off debt first?

Build a small emergency fund ($1,000) first, then focus on high-interest debt (credit cards). Once high-interest debt is cleared, build your full emergency fund while paying minimum on low-interest debt.

What is the best account type for savings?

High-yield savings accounts (HYSAs) currently offer 4-5% APY. Online banks like Marcus, Ally, and SoFi offer higher rates than traditional banks. Look for no minimum balance and no monthly fees.

How can I save money as a stay-at-home mom?

Start a side hustle to generate savings-specific income. Use cash back apps (Ibotta, Rakuten), meal plan to reduce food waste, buy secondhand for kids, and automate savings so you save before you spend.

What are SMART savings goals?

Specific (exact amount), Measurable (track progress), Achievable (realistic for your income), Relevant (matters to you), Time-bound (deadline). Example: Save $5,000 for vacation by December 2026.

How do I stay motivated to save?

Automate transfers so saving happens without thinking. Use a separate account for each goal. Celebrate milestones (every $1,000). Visualize your goal with pictures. Track progress monthly with charts.