Whether it is a down payment on a truck, a family car, a new roof or a trip, the math is the same: how much, by when, and how much to set aside each pay period.
Set the target and the date
Use the real price, including taxes, fees and anything extra. Pick a date you can live with.
Break it down
Divide what is left to save by the months, weeks or paychecks until the date. If the amount is too high, move the date or lower the target.
Keep it separate
A separate savings account, with an automatic transfer on payday, keeps the money from being spent by accident.
Our savings goal planner shows the amount per month, per week and per paycheck.
General information, not financial advice.
This article is general information, not legal, tax or regulatory advice. Rules change; confirm current requirements with the responsible agency or a licensed professional.
