Try out our savings calculator, yearly goals cheat sheet, and other tips for starting your emergency fund.
2.5 minute read
When you’re living paycheck to paycheck, setting up your savings might seem like a job for Future You.
But there are plenty of reasons to prioritize saving now, especially when you’re tight on cash:
If it’s within your means to set aside just a small fraction of your paycheck each month, we guarantee that Future You will thank you.
Not sure where to start? We've got you covered.
In some cases, it’s easy to put a number to a savings goal, like if you’re saving for a trip or a home improvement project. Or, maybe you just want to save enough to cover an unexpected expense without breaking the bank.
We'll explore both scenarios below.
Let’s say you want to save $425 in 3 months. Use the calculator below to figure out how much you should save from each paycheck. Just enter your savings goal, payday cycle, and timeline in the calculator to see how much you should save per paycheck.
If you don't have a specific goal in mind, but have an idea of how much you'd be willing to save per paycheck, try the calculator below to explore your options. Use the slider to select your savings per paycheck, see how much you could save in 3, 6, or 12 months.
If you have a yearly goal in mind, you can also use this savings cheat sheet as a quick reference:
If you’re having a hard time getting over that first hurdle of setting aside part of your paycheck, here are few quick tips:
Think of your savings as paying yourself. Before paying bills and rent and getting groceries, prioritize your future well-being by putting aside your savings for the month.
Saving can be automatic! It just takes a couple minutes of upfront work to automatically send part of your paycheck to a dedicated savings account. Learn how to do this with Palolo.
When you’re consistent about saving, even just a little bit each paycheck, you can start building meaningful habits that last a lifetime. Why not give yourself that opportunity sooner rather than later?