Your Money, Your Goals - A financial empowerment toolkit for social services programs.

Step 3: Figure out weekly savings target

Use the chart below to figure out how much you need to save for those goals that need money.
Start with the goals you circled above and then calculate your monthly savings goal. Note: To
figure out an estimated weekly goal, divide your “monthly savings goal” by 4.

Goals Amount

needed

Number of weeks to

deadline

Amount needed ÷

Number of weeks to

deadline = Weekly

savings goal

Short-Term

Example: I will save $50

within 6 months to start an

emergency savings fund.

$50 24 weeks $50 ÷ 24 = $2 per week

(about $8 per month)

Goal:

Long-Term

Goal:

Once you have your savings goal, be sure to add it into your budget or cash flow budget. For
more information on cash flow budgets, see Module 10: Managing cash flow. For ideas on
finding money to save, see Module 7: Saving for the unexpected, emergencies, and goals.

Resources

For additional resources, visit the Consumer Financial Protection Bureau website:

http://www.consumerfinance.gov/AskCFPB

If you have a consumer complaint, visit:

http://www.consumerfinance.gov/complaint