Where should I park my savings while building to a goal?

A high-yield savings account (HYSA) from an online bank currently pays around 4 percent APY. That's $200/year per $5,000 saved — meaningful and fully liquid. Avoid locking short-term savings in CDs or the market.

Should I include employer 401(k) match in my savings rate?

For this calculator, keep 401(k) separate — those funds aren't accessible for emergencies or short-term goals. Track them as retirement progress instead.

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

Push the target date out by three months, or reduce the goal by 10 percent, and rerun. Small adjustments compound — six extra months of savings on a five-year goal only cost a rounding error in lifestyle.

Money & Finance · Free tool

Savings Goal Calculator

Calculate exactly how much to save each month to reach your goal on time instantly online. Plan a vacation, emergency fund, or down payment free, no sign-up.

Updated June 2026

Goal amount ($)Starting balance ($)Months to reach goalHYSA APY (%)

Required monthly deposit

$776

You’ll end up with ~$9,807 after 12 months at 4% APY.

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What it does

A free savings goal calculator that works the other direction: tell it what you want and when, and it tells you what monthly deposit gets you there. Accounts for your starting balance and your high-yield savings APY.

Useful for short-term goals: a down payment, a wedding, an emergency fund, a trip. For money you’ll need in under 5 years, a high-yield savings account beats investing — you want low volatility, not maximum return. See our emergency fund guide.

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How to use it

Enter your goal amount and timeline in months.
Enter your starting balance (can be 0).
Enter your HYSA APY (4% is typical in 2026).
Read the required monthly deposit to reach the goal.

Frequently asked questions

Where should I park my savings while building to a goal?: A high-yield savings account (HYSA) from an online bank currently pays around 4 percent APY. That's $200/year per $5,000 saved — meaningful and fully liquid. Avoid locking short-term savings in CDs or the market.
Should I include employer 401(k) match in my savings rate?: For this calculator, keep 401(k) separate — those funds aren't accessible for emergencies or short-term goals. Track them as retirement progress instead.
What if I can't afford the required monthly deposit?: Push the target date out by three months, or reduce the goal by 10 percent, and rerun. Small adjustments compound — six extra months of savings on a five-year goal only cost a rounding error in lifestyle.

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