How Long Will it Take to Save $7,000?

How much will you need to save every day, every week, and every paycheck to meet your savings goal?
$
%
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 $7,000?
Calculate how much you need to save every day, week, or month to save $7,000. 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 $7,000. 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 $7,000.
Monthly Savings Needed to Save 7,000 by Years and Interest Earned
Years Monthly Savings at 2% Monthly Savings at 4% Monthly Savings at 6% Monthly Savings at 8%
1 $578 $573 $568 $563
2 $286 $281 $276 $271
3 $189 $184 $178 $173
4 $140 $135 $130 $125
5 $111 $106 $101 $96
6 $92 $86 $81 $77
7 $78 $73 $68 $63
8 $67 $62 $57 $53
9 $59 $54 $49 $45
10 $53 $48 $43 $39
11 $48 $42 $38 $34
12 $43 $38 $34 $30
13 $39 $34 $30 $26
14 $36 $31 $27 $23
15 $33 $29 $24 $21
16 $31 $26 $22 $19
17 $29 $24 $20 $17
18 $27 $22 $18 $15
19 $25 $21 $17 $14
20 $24 $19 $15 $12
21 $22 $18 $14 $11
22 $21 $17 $13 $10
23 $20 $16 $12 $9
24 $19 $15 $11 $8
25 $18 $14 $10 $8
26 $17 $13 $10 $7
27 $16 $12 $9 $6
28 $16 $11 $8 $6
29 $15 $11 $8 $5
30 $14 $10 $7 $5