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Finance

Sinking Fund Monthly Calculator

How much to save monthly for a known future expense.

Enter your values

ⓘ Live results

Results
Save each month
$295.32
Amount still needed
$5,469.13
Interest earned
$184.19
Per week
$68.15

Quick answer

Divide the target by the months available, adjusted for interest earned on the growing balance.

payment = FV x r / ((1+r)^n - 1)

How to use the Sinking Fund Monthly Calculator

  1. 1Enter the amount you need and the date it is due, in months.
  2. 2Include anything you have already set aside.
  3. 3Automate the monthly transfer the day after payday.

Worked example

Using the values the calculator loads with:

Inputs

  • Target amount6000 $
  • Months available18
  • Already saved500 $
  • Savings APY4 %

Results

  • Save each month$295.32
  • Amount still needed$5,469.13
  • Interest earned$184.19
  • Per week$68.15

Frequently asked questions

What should I sink-fund?

Insurance premiums, car maintenance, holidays and annual subscriptions.

Where should the money sit?

A separate high-yield savings account so it is not spent by accident.

About this calculator

Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.