Plan and track progress toward your financial goals. Calculate exactly how much to save monthly to reach your target amount by your deadline.
Enter your goal details to create a personalized savings plan.
Financial experts recommend saving 3-6 months of living expenses for an emergency fund. If you have stable employment, 3 months may be sufficient. If your income is variable or you're self-employed, aim for 6 months or more.
For short-term goals (1-3 years), use 1-3% for high-yield savings accounts. For medium-term goals (3-7 years), consider 4-6% for conservative investments. For long-term goals (7+ years), 6-8% may be realistic with diversified investments.
Start with an emergency fund, then prioritize based on urgency and importance. You can save for multiple goals simultaneously by allocating percentages of your savings to each goal. Consider automating transfers to stay consistent.
Start with what you can afford, even if it's just $25-50 per month. You can extend your timeline, reduce your goal amount, or look for ways to increase income or reduce expenses. The key is to start and build the habit of saving.