Why does what I have already saved reduce the deposit so much?

Because it grows for the whole period as well. The calculator works out what the existing balance becomes by the target date and asks the deposits to cover only the shortfall.

What if the deposit comes out as zero?

Your existing balance already reaches the target on its own at the rate entered. The calculator shows zero rather than a negative deposit, which would be meaningless.

Should I use an investment return for a short goal?

Generally no. Money needed within a few years is usually held in cash or something equally stable, because a fall at the wrong moment cannot be waited out. Use the rate your savings account actually pays.

Does it account for inflation?

No. If the goal is a real-world purchase whose price will rise, set the target to what you expect the thing to cost on the day, not what it costs now.

Savings Goal Calculator

Find the regular deposit needed to reach a target by a date.

Built by AbhiLast reviewed September 19, 2026

Result

Deposit needed: $662.08Estimate

Growth covers 10.6% of the goal; the rest is money you put in.Zero means what you have already saved reaches the target on its own.

It assumes a constant return and that every deposit is made on time. A rate that moves, a missed deposit or a withdrawal all change the result.

Total you will put in: $44,724.80Estimate
Growth on the way: $5,275.41Estimate
Ending balance: $50,000.21Estimate

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Results are arithmetic estimates based on the values you enter. Rates, fees and terms are set by your lender or provider, and your actual agreement controls what you pay or receive. Confirm important figures with them or with a qualified adviser. Read the full disclaimer

How to use the Savings Goal Calculator

Enter the target and the date you want to reach it by, expressed in years.
Enter anything you have already put aside for this goal.
Use the rate your account actually pays, not a hoped-for investment return, for a short goal.

Working backwards from the target

Most saving calculations run forwards: deposit this much and see what it becomes. This one runs backwards. It takes the destination and the date, works out what the existing balance will have grown to by then, and solves for the deposit that covers the gap.

deposit = (target − present × (1 + r)^n) × r ÷ ((1 + r)^n − 1)r = rate per deposit interval    n = number of deposits

That is the annuity payment formula rearranged. It assumes every deposit is the same size, arrives at the end of each interval, and stays invested until the target date.

Time does most of the work

Doubling the period does much more than halve the deposit, because the earlier deposits have longer to grow and the growth itself compounds. Starting a year earlier is almost always worth more than finding a slightly better rate.

The reverse is also true: shortening the deadline raises the required deposit steeply, and past a certain point the goal stops being reachable from income alone. Seeing that number early is more useful than discovering it later.

Match the rate to the time frame

For a goal one to three years away, use what a savings account or a fixed-term deposit actually pays. That rate is close to a fact, and the money will be there.

For goals a decade or more away, an investment return might be reasonable, but it is an assumption that can be wrong in both directions. Returns arrive unevenly, and a fall in the final year matters far more than one at the start. Try the calculation at a lower rate as well and see whether the plan still works.

What it does not include

Tax on interest, account fees, inflation, and any withdrawal along the way. It also assumes no missed deposits. Missing a few early deposits costs more than missing late ones, for the same reason that early deposits are worth more.

If the goal is a house deposit, remember the target should include the costs that come with it rather than the deposit alone.

With your numbers

Target $50,000.00 less the growth on $5,000.00 already saved
Deposit = shortfall × r ÷ ((1 + r)^n − 1) = $662.08 per monthly period
Total paid in $44,724.80, growing to $50,000.21

Quick reference

It assumes a constant return and that every deposit is made on time. A rate that moves, a missed deposit or a withdrawal all change the result.

Common borrowing and saving examples, worked out with the options this calculator starts on for United States.
Example	Deposit needed
USD 50,000 in 5 years with 5,000 saved	$662.08
USD 20,000 house deposit in 3 years	$460.44
USD 10,000 emergency fund in 2 years from nothing	$400.92
USD 5,000 in 1 year, saving weekly	$84.73
USD 100,000 in 15 years	$259.47
USD 30,000 where 28,000 is already saved	$0.00
EUR 25,000 in 4 years	€424.46
EUR 60,000 in 10 years	€339.21

Common questions about the Savings Goal Calculator

Why does what I have already saved reduce the deposit so much?: Because it grows for the whole period as well. The calculator works out what the existing balance becomes by the target date and asks the deposits to cover only the shortfall.
What if the deposit comes out as zero?: Your existing balance already reaches the target on its own at the rate entered. The calculator shows zero rather than a negative deposit, which would be meaningless.
Should I use an investment return for a short goal?: Generally no. Money needed within a few years is usually held in cash or something equally stable, because a fall at the wrong moment cannot be waited out. Use the rate your savings account actually pays.
Does it account for inflation?: No. If the goal is a real-world purchase whose price will rise, set the target to what you expect the thing to cost on the day, not what it costs now.