Project your savings growth with an initial deposit, regular monthly contributions, and compound interest over time.
Plan your savings with our free calculator, whether you're building an emergency fund, saving for a big purchase, or working toward a long-term goal.
This calculator projects savings growth using compound interest: Future Value = Current Savings × (1 + r)^t + Monthly Contributions compounded over t years. It can also work backward to solve for the monthly contribution needed to hit a target amount by a specific date.
A common guideline is 3-6 months of essential expenses, though your ideal amount depends on job stability and other financial safety nets.
This calculator shows nominal growth; for real (inflation-adjusted) value, subtract your expected inflation rate from your interest rate.
Use your actual account's rate; high-yield savings accounts typically offer meaningfully higher rates than standard checking or basic savings accounts.
Both work, consistent monthly contributions build the habit and smooth out timing risk, while a lump sum benefits from more time compounding if invested early.