Free Printable Savings Plan Sheet

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I often encourage you to do savings challenges because they are fun and will help you to save money quickly. I share many savings challenges because we are all on different phases of our savings journey. I love planning out the savings challenges that I want to complete during the month and making sure that it aligns with my savings goals.

I have been getting questions about how many savings challenges I complete in a month and how to figure out how much money to save. I want to help you with creating a savings plan that is simple. 

This plan will help you to create a roadmap for your savings and take the guesswork out of how much money you need to add each pay period. Here is the Savings Plan Sheet, a freebie that will be a game changer on your savings journey!

If you are eager to get your Free Savings Plan Sheet and start creating your plan, then click the link below to begin the download!

The Printable Savings Plan Sheet

The Savings Plan Sheet includes spaces for you to write what you are saving for, the savings goal and even when you start and end your savings plan. I have been using this savings plan to help me do this for a few months and love it! I knew I had to share this savings plan with you because it is the simplest way to figure out how much money you need to save each paycheck to reach your savings goal.

At the end of each month, I sit down and create my savings plan for the next month. This monthly savings plan aligns with my yearly goal of saving $10,000. I break it into twelve months of savings because it’s a smaller amount. I love small savings amounts that add up! I’m going to tell you how to complete the savings challenge sheet and use savings challenges to reach your goal.

How to Use the Savings Plan Sheet

Here is how to complete the savings plan: 

1. Write what you are Saving for. This is what you plan to use the savings money for. You can create a savings plan for an emergency fund, debt payoff, vacation, medical procedure, wish list item, and more!
2. Write the Savings Plan Start Date. Fill in today’s date or the date of when you start saving.
3. Fill in Savings Goal Amount. This is the total amount that you want to save. 
4. Write the Savings Goal Date. The date that you want the savings completed. 
5. Circle Your Pay Frequency. There are 5 options to choose from, which is how often you are paid.
6. Calculate the Number of Paychecks Between Today and the Goal Date. Use a calendar to add up how many paychecks you will receive between the savings start date and savings completion date (Savings Goal Date). I circle each payday on my calendar and then add how many paychecks are between today and my goal date. 
7. Calculate the Savings Plan Amount. Savings Goal Amount / # Paychecks between today and the goal date = Savings Plan Amount.
8. The savings plan amount is the amount that you will add to your savings each paycheck.

Example: My Savings Plan

I want to save $1,000 for Christmas. My goal date is November 30th.  I get paid weekly. There are 18 paychecks that I will receive between today and my goal date of November 30th. Here is my Christmas Savings Plan:

How to Use Savings Challenges to Reach Your Savings Goal

Now that you know how fill out the savings plan and how much to add to your savings amount each week, the fun begins! I use savings challenges to reach my savings goals. With my savings plan I will need to add $56 each paycheck to reach my $1,000 Christmas Fund Savings Goal. I will use a savings challenge with a $1,000 savings goal to complete this.

If you want to use a savings challenge to reach your savings goal, then start by finding a challenge with your savings goal amount. You can use multiple savings challenges that add up to your savings goal or one savings challenge with your savings goal.  I use multiple challenges to reach my yearly savings goals because I get bored using one challenge for the entire year. For Christmas, I don’t mind using one challenge because it’s a short period and I can find a Christmas Savings Challenge with my goal savings amount.

Get the Free Printable Savings Plan Sheet

It’s time to get your Savings Plan Sheet! You can download and print multiple sheets for each savings goal, so start with one savings amount and work your way to other goals.

To get your Free Printable Savings Plan sheet, click the link below to begin the download!

Please feel free to check out the free budgeting resource library that has all a bunch of budgeting trackers to help you transform your finances: Free Budgeting Resource Library.

Create a Road Map for Success

I hope that this savings plan sheet will help you to create a successful savings road map! I love savings challenges, but I also like to use other tools that will help me to reach my savings goals. Choose a savings goal amount that works with your budget and challenges you. 

Please leave me a comment below letting me know if you have created a savings plan and are committed to reaching your savings goal. Don’t forget to connect with me on social media: @thesavingbutterfly