Question 1

How much should I save each month to reach a goal?

Accepted Answer

It depends on three things: how much you need, how long you have, and what return (if any) your savings earn along the way. A goal that's further away, or that earns some return while you save, needs a smaller monthly contribution than the same goal reached sooner in cash earning nothing. That's exactly what this calculator solves for.

Question 2

Does inflation matter for a short-term savings goal?

Accepted Answer

Less than for a long-term one, but it's rarely zero. A goal 12-18 months away is only mildly affected by inflation; a goal 10+ years away can need meaningfully more in future money to buy what today's amount buys now. This calculator lets you turn inflation adjustment on or off so you can see both numbers.

Question 3

Should I keep my savings goal in cash or invest it?

Accepted Answer

As a general principle (not personalized advice), the shorter your timeline, the less exposure to market swings a goal amount can safely absorb — many savers keep goals under roughly 2-3 years in cash or a savings account rather than investments. Longer goals have more time to recover from a downturn, which is why this calculator lets you set your own expected return rather than assuming one.

Question 4

What if I can't afford the required monthly amount?

Accepted Answer

Three levers move the required number: a longer timeline, a smaller goal amount, or a higher return (which usually means more risk). Try adjusting the years field first — extending a goal by even a year or two often reduces the required monthly amount more than people expect.

Saving Goal Calculator: See How Much You Need to Save

Quick Links

Categories