Savings Goal Calculator

Where to keep savings for a goal

For goals under five years, such as an emergency fund, a down payment or a car, a high-yield savings account or certificates of deposit keep the money safe while earning interest. Money for goals more than five years away can be invested for higher growth, with more risk.

Make it automatic

Set up an automatic transfer on payday for the amount above. Saving first and spending what is left works better than saving what remains at the end of the month.