How much should I save per month?

The required monthly saving depends on your goal, timeline, and interest rate. Our calculator uses the present value of annuity formula to find the exact monthly amount: PMT = (FV × r) / ((1+r)^n − 1), where r is the monthly rate and n is months.

How long will it take to save a certain amount?

Time to reach a savings goal = log(1 + (FV × r / PMT)) ÷ log(1 + r), where FV is the goal, r is monthly interest rate, and PMT is monthly savings. Higher interest rates and contributions reach goals faster.