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Honest Figures

Saving & investing

Savings Goal Calculator

To reach $30,000 in 5 years, starting with $3,000 and earning about 4% a year, you'd set aside roughly $397 a month. Interest does a little of the work, so you contribute a bit less than the full target. Set your own target, timeline and starting balance below. A 4% return fits a high-yield savings account or CD, which is where money you need in a few years usually belongs.
Monthly to Save
$397
a month to reach $30,000 in 5 years
5
4.0%
You put in over time$26,835
Interest helps with+$3,165
Goal$30,000
Monthly compounding

A goal is easier with a number

"Save more" is easy to ignore. "Move $400 to savings on payday" is something you can actually do, and automate. Once you know the monthly figure, set up a standing transfer for the day you get paid, so the money is gone before you can spend it. If the number feels too high, you have three levers: give the goal more time, aim for a bit less, or find a slightly higher return. The timeline is usually the gentlest one to stretch.

Assumes steady monthly saving and monthly compounding at the rate you choose. Real savings rates move around. Not financial advice.

Freddie Mac · Jul 9, 2026
6.49%
30-year fixed mortgage rate

On a $360,000 loan, about $2,273 a month in principal and interest.

Work out a mortgage

Common questions

How much to save monthly for $30,000 in 5 years?

Starting from $3,000 at about 4%, roughly $397 a month.

Where should I keep short-term savings?

For a goal a few years away, a high-yield savings account or a CD keeps it safe while earning a modest return, which is why we assume around 4% here rather than a stock return.

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