How Long to Save $3,000 Starting with $1,000 at $300/Month?

With $1,000 already saved and $300 added monthly, you can reach $3,000 in approximately 7 months.

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How to use this tool

Enter savings goal, current savings, monthly deposit and annual interest rate in the fields above.
Results update instantly as you type — or click Calculate.
Read your months to reach goal and the full breakdown beneath it.

See how fast a $1,000 head start plus $300 monthly gets you to a $3,000 savings target.

Frequently asked questions

Does interest speed things up?: Yes. With a positive rate your balance compounds while you save, so you reach the goal a little sooner than deposits alone would suggest.