# Savings goal calculator

Pick something you want, enter what you can set aside each month, and see when you'll have it. Or set a deadline and get the monthly amount you need.

Interactive calculator (runs in the browser): https://www.trackmysubscriptions.com/tools/savings-goal-calculator

## How it works

Each month's saving is added at the end of the month and earns interest at the rate you enter, compounded monthly. The calculator counts months until the balance reaches the goal. The reverse uses the future-value-of-savings formula to find the monthly amount for a deadline.

## Worked example

Cancel $45.00 a month of subscriptions you don't use, put it in a 4% savings account, and a $1,500 goal takes 32 months. To get there in 12 months you'd need $122.72 a month.

Not sure what you could free up? List what you pay in the [subscription calculator](https://www.trackmysubscriptions.com/build) and run the [subscription audit](https://www.trackmysubscriptions.com/blog/subscription-audit).

## FAQ

### How do I work out how long it takes to save for something?

Divide what you still need by what you save each month. Interest shortens it slightly; the calculator includes it.

### How much do I need to save each month to reach a goal?

Enter the goal and a deadline in months. The calculator gives the monthly amount, including interest on what you've saved.

### Where can I find money to save?

Recurring costs you've stopped using are the easiest place. They leave your account every month without you noticing.