Whether you get paid weekly, bi-weekly, semi-monthly, or monthly, calculate exactly how much money to transfer to savings every payday to hit annual goals.
Enter your values, then select Calculate Now
Calculates paychecks per year: Weekly = 52, Bi-Weekly = 26, Semi-Monthly = 24, Monthly = 12. Required Per Paycheck = Annual Goal / Paychecks Per Year. Savings Rate Per Paycheck = (Required Per Paycheck / Net Paycheck) * 100%.
Setting up an auto-transfer of $461.54 every other Friday guarantees hitting your exact $12,000 goal at year-end.
Enter your overall target savings goal for the year (e.g. $10,000 or $15,000).
Select your employer pay schedule (weekly, bi-weekly, semi-monthly, or monthly).
Input your net take-home pay per paycheck.
Review the required transfer amount per paycheck and your effective savings percentage.
Semi-monthly means you are paid twice a month (e.g. the 1st and 15th), equaling 24 paychecks a year. Bi-weekly means paid every two weeks (e.g. every other Friday), equaling 26 paychecks a year.
Because 26 paychecks divided by 12 equals 2.167 paychecks per month, two months of the year will feature three paychecks instead of two.
Many people treat the 3rd paycheck as a 100% bonus savings deposit, injecting thousands directly toward retirement or debt payoff.
Base your per-paycheck savings on your guaranteed minimum base hours. When overtime occurs, save 50% of the extra overtime pay.
Yes! Most payroll systems allow you to direct-deposit $461.54 directly into savings and the remainder into checking automatically.
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