As one of our Adviser Intel contributors, Anthony Martin, says: "With savings, it's not the amount that matters the most, but the consistency." In his article on how to save for big goals, he goes on to explain that, "If you save $5 every month from the age of 10, you will have saved $1,200 by the time you're 30." Getting into the regular savings habit, even if it's a small amount each month, can add up significantly over time.
If you want to know how much you need to save each month to reach your financial goal, use our simple calculator that helps you create a realistic monthly savings plan to reach your target goal.
Work through each section, factoring in your current savings, your target timeline and the interest rate you expect to achieve.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Return and repeat this exercise as much as you need to track your savings goals.
Related content
- I'm a Financial Adviser: This Is How You Can Save for Big Goals
- Savings Calculator: If You Saved $5,000 Five Years Ago, Here's What You'd Have Now
- Seven Ways to Make Saving for a Large Purchase Easier and Faster
- Seven of the Best Budgeting Apps
-
The Savvy Way to Spend (and Enjoy) Your BonusUse your bonus to build wealth, boost savings and still enjoy a little well-earned fun.
-
Stores Open (and Closed) on Thanksgiving Day 2025From grocery stores to big-box retailers, here’s where you can shop and where you’ll find doors shut on Thanksgiving.
-
No-Penalty CD or High-Yield Savings? What Works Best NowDiscover which option can help you reach your savings goals quickly.
-
I Inherited $50,000, and My Retirement is Fully Funded. Where's the Best Place to Store It for Maximum Growth?These savings solutions can help you maximize returns without the risk.
-
Where You Choose to Stash $100k Now Comes with a Big Opportunity CostThe Fed recently cut rates. Here's where to maximize your savings while rates remain higher.
-
Where to Deposit Your Social Security CheckIf you receive Social Security checks, where you deposit them matters because it can help grow your earnings. See the best options.
-
Top Places to Park $10K (or More) as Rates Start to FallWith more rate cuts upcoming, here are some smart places to maximize your savings on $10,000.
-
Savvy Savings Moves to Make Now – Or You Could Lose ThousandsDespite a rate cut and inflation, these moves can still help you reach your savings goals quickly.
-
I Have $150,000 That I Don’t Need Anytime Soon, but I Don’t Want To Put It in the Market. What Should I Do?My strategy offers a guaranteed return that can earn you thousands effortlessly.
-
Falling Interest Rates: What They Mean for Homeowners, Savers and InvestorsAs interest rates fall, homeowners may celebrate while savers feel the pinch. Here’s what the change could mean for your money.
