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Savings Plan Calculator

Created by Tibor Pál, PhD candidate
Reviewed by Dominik Czernia, PhD and Jack Bowater
Based on research by
Baye, M. Managerial Economics and Business Strategy; 2009
Last updated: Jan 18, 2024

Would you like to take a 52-week money challenge or a 100-day money challenge? If yes, then you have found the right place! We have built this savings plan calculator to help you set up a money-saving plan and check how much money you could save by taking different money-saving challenges.

Read further and learn how to apply the savings plan calculator to choose the best saving plan. Also, you can get familiar with a savings plan formula and find the answers to some related questions in the FAQ section.

If you are interested in a more complex tool which includes interest rate as well, you may want to have a look at our savings calculator or savings goal calculator.

The savings plan formula for a simple 52-week money challenge

A simple way to create a savings plan is to begin your savings with a certain amount of money and then raise it periodically. For example, you may decide to start your money-saving challenge by one dollar and increase it every week by another dollar for 52 weeks. In such a case, you can quickly compute the final amount you can save by summing up an arithmetic sequence.

52 * (1 + 52) / 2 = $1,378

Therefore, for such challenges, the savings plan formula is the following:

final saving = number of period * (first period saving + last period saving) / 2

How to use the savings plan calculator?

  1. First, you need to set the type of money saving plan you would like to make. There are four kinds of plan you can choose from:

    • Daily savings plan (e. g. 100-day money challenge);
    • Weekly savings plan (e. g. 52-week money challenge for $5000);
    • Bi-weekly savings plan, and
    • Monthly savings plan (e. g., 6-month saving plan).
  2. Then you need to set the length of your money-saving challenge.

  3. Choose the way you would like to proceed with your savings:

  • Fixed or growing deposit

With this option, you need to set how much money you would like to put aside and optionally the amount you would like to increase it periodically by.

  • Given final balance

Here, you can set a certain final amount, and the savings-plan calculator will compute the deposit you need to put aside to reach this amount.

  • Deposit cycle

With this setting, you can determine a deposit cycle with different amounts, which will repeat throughout the term of your money-saving plan.

After you set the above parameters, your savings plan will appear immediately in the form of a table. You can check how much money you need to put aside and how your balance will progress over the given period.


What is the 52 week money challenge?

The 52-week money challenge is a savings plan where you increase your savings by the same amount week by week over a year. That means you will deposit your money 52 times in total.

How does the 52 week savings plan work?

Taking the 52-week savings plan means that you deposit an increasing amount of money each week for one year. For example, you save $1 the first week, $2 the second week, $3 the third week, and so on until you put aside $52 in week 52.

What is the 30 day rule?

The 30 day savings rule means that you put aside all non-essential purchases and impulse buys for 30 days. Instead of spending your money immediately on something that might be not necessary, you postpone the decision till the end of the 30 day period.

What is the $5 challenge?

In a $5 challenge, you need to put aside a five-dollar bill, for example, in a jar or envelop, every time you have one instead of spending it.


You should consider the savings plan calculator as a model for financial approximation since we created the calculator for instructional purposes only. If you experience a relevant drawback or encounter any inaccuracy, we are always pleased to receive helpful feedback and advice.

Tibor Pál, PhD candidate
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Your final balance will be $5,200.00.
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