Enter your savings goal, how many months you have, any money already saved, and the expected annual percentage yield (APY) of your savings account or money market fund. The calculator will tell you exactly how much to set aside each month to hit your target.
A sinking fund is a dedicated savings bucket for a known future expense — car registration, vacation, holiday gifts, or a new appliance. Instead of scrambling for cash when the bill arrives, you set aside a small amount each month. The math accounts for compound interest: your earlier deposits earn more because they have longer to grow. Even a modest 4–5% APY in a high-yield savings account meaningfully reduces how much you need to save each month compared to a zero-interest account.