Savings Goal Calculator

FAQ

What interest rate should I use?

For a high-yield savings account (HYSA), 4–5% is typical in 2025. For a money market account, 3–5%. For an investment account (index funds), use 7% as a long-term historical average, though returns vary and are not guaranteed.

How much should I have in an emergency fund?

3–6 months of essential expenses is the standard recommendation. If your income is variable or your job is less secure, lean toward 6 months. Keep the emergency fund in a HYSA — liquid and earning interest.

Does it matter when in the month I contribute?

Yes, slightly. Contributing at the start of the month (rather than end) gives your money more time to earn interest. Over years, this can meaningfully increase your total.

What if I can't contribute every month?

Skip the interest rate field (set to 0) and treat the result as a baseline. Any month you contribute more than planned accelerates your timeline; months you miss will push it back. Consistency matters more than the exact amount.