Calculate how long it will take to reach your savings goal.
Time to Reach Goal
1y 4m
16 months total
$2,000 of $10,000 (20.0%)
Waypoint Budget helps you set and track savings goals for vacation, emergency fund, down payment, and more.
Increase your monthly contribution, find ways to reduce expenses, or consider a higher-interest savings account. Even small increases in monthly savings can significantly reduce the time to reach your goal thanks to compound interest.
For savings accounts, use 2-5% (typical HISA rates in 2026). For investments, use 6-8% for conservative estimates or 8-10% for long-term stock market averages. Be realistic - overestimating returns leads to disappointment.
For short-term goals (under 5 years), a high-interest savings account (HISA) is fine. For longer-term goals, consider a TFSA - your savings grow tax-free. Check out our TFSA calculator to see your contribution room.
Automate your savings, cut unnecessary expenses, find ways to increase income, and stay consistent. Small daily savings add up - cutting a $5 daily coffee saves $1,825/year. Read our guide on how to save money on groceries for more tips.
Disclaimer: This calculator is for educational and informational purposes only and does not constitute financial, tax, or legal advice. Results are estimates based on simplified assumptions and may not reflect your actual situation. Tax laws, contribution limits, and regulations change frequently. Always consult a qualified financial advisor or tax professional before making financial decisions. See our Terms of Service for full details.