How much should I save each month to reach a goal?
Turn a target and deadline into a monthly savings amount with and without an assumed return.
Start without a return assumption
For a straightforward goal, monthly deposit = (target − current savings) ÷ months remaining. To reach 6,000 in 12 months from zero, set aside 500 each month. If 1,200 is already saved, the remaining 4,800 requires 400 per month. Keep the goal amount and deposit in the same currency.
Add interest carefully
If deposits earn a known periodic rate, the required amount can be lower, but timing matters: depositing at the beginning of each month differs from the end. A savings goal calculator can model a rate and contributions. Do not treat a forecast market return as certain for a short deadline.
Stress-test the plan
Check whether your budget can support the deposit after essentials and irregular bills. If the amount is too high, extend the deadline, lower the target or use an existing balance; do not hide an unrealistic assumption. Recalculate whenever your income, rate, fees or goal changes.
Try it and keep reading
Try your numbers in savings goal, compound interest. Then read the related guide for context and assumptions.