How Long Will it Take to Save $5,000?

How much will you need to save every day, every week, and every paycheck to meet your savings goal?
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Here's how much you will have to set aside to save $5,000 in 1 Year:
$96 every week
$191 every two week pay period
$416 every month
$14 every day
How Long Does it Take to Save $5,000?
Calculate how much you need to save every day, week, or month to save $5,000. Enter your savings goal, the time needed, and the investment return that you receive to see how much you need to save regularly to achieve your savings goal of $5,000. Use this to see how much you need to save for retirement, a college education, a down payment on a home, or any type of savings goal.
See the chart below to see how much you need to save based on the length of time needed to save $5,000.
Monthly Savings Needed to Save 5,000 by Years and Interest Earned
Years Monthly Savings at 2% Monthly Savings at 4% Monthly Savings at 6% Monthly Savings at 8%
1 $413 $409 $406 $402
2 $204 $201 $197 $193
3 $135 $131 $127 $124
4 $100 $96 $93 $89
5 $79 $76 $72 $69
6 $65 $62 $58 $55
7 $56 $52 $48 $45
8 $48 $44 $41 $38
9 $42 $39 $35 $32
10 $38 $34 $31 $28
11 $34 $30 $27 $24
12 $31 $27 $24 $21
13 $28 $25 $21 $19
14 $26 $22 $19 $17
15 $24 $20 $17 $15
16 $22 $19 $16 $13
17 $21 $17 $14 $12
18 $19 $16 $13 $11
19 $18 $15 $12 $10
20 $17 $14 $11 $9
21 $16 $13 $10 $8
22 $15 $12 $9 $7
23 $14 $11 $9 $7
24 $14 $10 $8 $6
25 $13 $10 $7 $6
26 $12 $9 $7 $5
27 $12 $9 $6 $5
28 $11 $8 $6 $4
29 $11 $8 $6 $4
30 $10 $7 $5 $4