Savings Challenge Calculator

Track your progress on popular savings challenges.

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Savings Challenge

Choose a challenge or set a custom goal.

You've saved so far
$0
Goal: $0
Goal amount
$0
Saved so far
$0
Remaining
$0
Progress
0%
Weeks remaining
0
Next payment
$0

Worked example

With the default inputs shown below, this calculator returns the following results:

InputValue
Challenge type52-week challenge ($1 to $52)
Custom goal amount ($)$10,000
Weeks to complete52
Current week / envelope12
ResultValue
You've saved so far$78
Goal amount$1,378
Saved so far$78
Remaining$1,300
Progress5.7%
Weeks remaining40

Values shown are produced by this page in your browser; change any input to update them.

How to use the Savings Challenge

  1. Challenge type — default 52-week challenge ($1 to $52)
  2. Custom goal amount ($) — default $10,000
  3. Weeks to complete — default 52
  4. Current week / envelope — default 12
  5. Press Calculate to update the results instantly.

Frequently asked questions

You save $1 in week one, $2 in week two, up to $52 in week 52, totalling $1,378. Reverse it to start with the hardest week.
Label 100 envelopes 1 to 100 and draw one a week, saving the number written on it. Finished in a year it adds up to $5,050.
Mathematically yes, because a fixed amount is easier to automate. Challenges work because they are motivating, not because they earn more.

Sources & references