How Long Will it Take to Save $8,000?

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 $8,000?
Calculate how much you need to save every day, week, or month to save $8,000. 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 $8,000. 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 $8,000.
Monthly Savings Needed to Save 8,000 by Years and Interest Earned
Years Monthly Savings at 2% Monthly Savings at 4% Monthly Savings at 6% Monthly Savings at 8%
1 $661 $655 $649 $643
2 $327 $321 $315 $309
3 $216 $210 $204 $198
4 $160 $154 $148 $143
5 $127 $121 $115 $110
6 $105 $99 $93 $88
7 $89 $83 $77 $72
8 $77 $71 $66 $60
9 $68 $62 $56 $52
10 $60 $55 $49 $44
11 $54 $49 $43 $39
12 $49 $44 $38 $34
13 $45 $39 $34 $30
14 $41 $36 $31 $27
15 $38 $33 $28 $24
16 $35 $30 $25 $21
17 $33 $28 $23 $19
18 $31 $26 $21 $17
19 $29 $24 $19 $16
20 $27 $22 $18 $14
21 $26 $20 $16 $13
22 $24 $19 $15 $12
23 $23 $18 $14 $11
24 $22 $17 $13 $10
25 $21 $16 $12 $9
26 $20 $15 $11 $8
27 $19 $14 $10 $7
28 $18 $13 $9 $7
29 $17 $12 $9 $6
30 $16 $12 $8 $6