# How much to save each month to reach a goal in Excel

Use PMT with the goal as the future value: `=-PMT(B4/12,B3*12,-B5,B2)` is the monthly amount, after what you have already saved.

**Excel:** `=-PMT(B4/12,B3*12,-B5,B2)` (Every current version)

**Google Sheets:** the same formula works.

## Example

Sample data (row 1 is the header):

| A | B |
| --- | --- |
| Savings goal | Value |
| Target amount | 30000 |
| Years | 4 |
| Annual return | 0.04 |
| Already saved | 2500 |
| Monthly saving |  |

Formula in B6: `=-PMT(B4/12,B3*12,-B5,B2)`

Result: $520.92

## How it works

PMT's fourth argument is a future value: the amount you want to end with. The starting $2,500 is money you put in, so it is negative, and the target is money you get back, so it is positive. PMT then returns the monthly deposit, as a negative because it goes out; the minus in front shows it as a positive amount.

## Other ways

- `=(B2-B5)/(B3*12)`: Without any growth, the gap divided by the months. (More without growth: $572.92.)

## Common mistakes

- Giving the target and the deposits the same sign returns a payment with the wrong sign, or nonsense.
- Use a cautious return: the formula assumes it every month, but real returns vary.

## Questions

**How long will it take at a fixed monthly amount?**

Use NPER: `=NPER(B4/12,-500,-B5,B2)/12` years for $500 a month.

**How do I save weekly instead?**

Use weekly periods: `=-PMT(B4/52,B3*52,-B5,B2)`.

Every formula and result on this page was checked by running it in the Spreadsheet Practice formula engine on 2026-10-30.

Source: https://spreadsheetpractice.com/formulas/monthly-savings-to-reach-a-goal