Pay Yourself First
Calculate your automatic savings transfers before bills and spending. Set targets for emergency fund, retirement, and other goals, then see what remains.
Financial Disclaimer
This calculator is for educational purposes only and does not constitute financial advice. Results are estimates based on the inputs provided. Consult a qualified financial advisor before making investment or financial planning decisions.
Inputs
Results
Total Auto-Transfer
$1,000.00
≈ 8 pairs of sneakers
Remaining for Bills & Spending
$4,000.00
≈ 4 smartphones
How to Use This Calculator
- Enter your monthly take-home income and your target savings rate percentage.
- Break down the target into emergency fund, retirement, and other savings goal contributions.
- Review Total Auto-Transfer — set up automatic transfers for this amount on payday before spending anything.
- Check Savings Rate Achieved to confirm your plan hits your target.
- Use 5-Year Projection at 7% return to see the compounding power of automating savings.
How the result changes with Retirement Monthly
| Retirement Monthly | Total Auto-Transfer | Remaining for Bills & Spending |
|---|---|---|
| $2,000.00 | $2,500.00 | $2,500.00 |
| $7,000.00 | $7,500.00 | $0.00 |
| $13,000.00 | $13,500.00 | $0.00 |
| $18,000.00 | $18,500.00 | $0.00 |
What each input means
- Monthly Income
- Total monthly take-home income
- Target Savings Rate
- Your ideal savings percentage goal (for reference)
- Emergency Fund Monthly
- Monthly auto-transfer to your emergency fund
- Retirement Monthly
- Monthly contribution to 401(k), IRA, or retirement account
- Other Savings Goals
- Monthly amount for vacation, house down payment, or other goals
How this is calculated
Worked example, using the default values
- Identify Input Parameters4 parametersMonthly Income = 5000, Target Savings Rate = 20, Emergency Fund Monthly = 300, Retirement Monthly = 500 = 5 input(s) provided
- Calculate Total Auto-TransferTotal Auto-Transfer1000 = $1,000
- Calculate Remaining for Bills & SpendingRemaining for Bills & Spending = max(remainingForBills4000 = $4,000
- Calculate Savings Rate AchievedSavings Rate Achieved20 = 20%
- Calculate Annual Savings TotalAnnual Savings Total12000 = $12,000
Engine last updated . Checked against 2 independently-derived tests — how we verify calculators.
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