Okay we’re about a fourth of a way into 2024, so it’s a great time to evaluate your goals and see how we’re doing.
If you saw our previous post about how to save $10,000 in one year / 2024, then stick around to watch us illustrate more than double that amount, $25,000.
Once again, my theory is that saving will not make you rich over the long term, investing will. However, in the short term learning how to save and more importantly automate your saving is a tremendous skillset and powerful mindset to have.
Several methods could be implemented to achieve your saving goals. We prefer doing the hard work up front and then letting automation do the rest for us, in a strategic periodic way. The less that we have to manually think about and continuously do, the better!
So, let’s not wait any longer – let’s jump into the numbers for how we can set up an automated savings plan to achieve this savings amount of $25,000.
How Much Will I Need To Save on a Monthly Basis to save $25,000 in one year?
Great question! In order to save, $25,000 in one year or 12 Months – you will need to save $2,083.34 or $2,084 rounded up per month to achieve this goal.
| Months | Amount | Total |
| 1 | $2,084 | $2,084 |
| 2 | $2,084 | $4,168 |
| 3 | $2,084 | $6,252 |
| 4 | $2,084 | $8,336 |
| 5 | $2,084 | $10,420 |
| 6 | $2,084 | $12,504 |
| 7 | $2,084 | $14,588 |
| 8 | $2,084 | $16,672 |
| 9 | $2,084 | $18,756 |
| 10 | $2,084 | $20,840 |
| 11 | $2,084 | $22,924 |
| 12 | $2,084 | $25,008 |
How Much Will I Need To Save on a Weekly Basis to save $25,000 in one year?
If you’d like to break up your savings goal into a weekly occurrence, you’d need to save $480.77 or rounded up $481 per week for 52 weeks to achieve your goal. After saving $481 for 52 weeks your total amount would be $25,012 saved – not including any dividends or interest you could earn on that money as well.
| Weeks | Amount | Total |
| 1 | $481 | $481 |
| 2 | $481 | $962 |
| 3 | $481 | $1,443 |
| 4 | $481 | $1,924 |
| 5 | $481 | $2,405 |
| 6 | $481 | $2,886 |
| 7 | $481 | $3,367 |
| 8 | $481 | $3,848 |
| 9 | $481 | $4,329 |
| 10 | $481 | $4,810 |
| 11 | $481 | $5,291 |
| 12 | $481 | $5,772 |
| 13 | $481 | $6,253 |
| 14 | $481 | $6,734 |
| 15 | $481 | $7,215 |
| 16 | $481 | $7,696 |
| 17 | $481 | $8,177 |
| 18 | $481 | $8,658 |
| 19 | $481 | $9,139 |
| 20 | $481 | $9,620 |
| 21 | $481 | $10,101 |
| 22 | $481 | $10,582 |
| 23 | $481 | $11,063 |
| 24 | $481 | $11,544 |
| 25 | $481 | $12,025 |
| 26 | $481 | $12,506 |
| 27 | $481 | $12,987 |
| 28 | $481 | $13,468 |
| 29 | $481 | $13,949 |
| 30 | $481 | $14,430 |
| 31 | $481 | $14,911 |
| 32 | $481 | $15,392 |
| 33 | $481 | $15,873 |
| 34 | $481 | $16,354 |
| 35 | $481 | $16,835 |
| 36 | $481 | $17,316 |
| 37 | $481 | $17,797 |
| 38 | $481 | $18,278 |
| 39 | $481 | $18,759 |
| 40 | $481 | $19,240 |
| 41 | $481 | $19,721 |
| 42 | $481 | $20,202 |
| 43 | $481 | $20,683 |
| 44 | $481 | $21,164 |
| 45 | $481 | $21,645 |
| 46 | $481 | $22,126 |
| 47 | $481 | $22,607 |
| 48 | $481 | $23,088 |
| 49 | $481 | $23,569 |
| 50 | $481 | $24,050 |
| 51 | $481 | $24,531 |
| 52 | $481 | $25,012 |
Breaking up large goals, into small iterative action items – helps us stay focus & break them up into smaller achievable actions. This ideology can be applied to not just saving but all aspects of goal setting.
It doesn’t matter where you are, you can achieve your goals – don’t let big amounts scare you away from trying! Break them up into smaller iterative amounts that you can do but don’t forget to push yourselves too. Make yourself uncomfortable, in a responsible manner of course. But this is when true growth can happen, when we push ourselves, strive for uncomfortable goals and don’t lose hope.
Hope you got some solid motivation from this post!
Best of luck & keep pressing on with your goals for 2024!
