Free Tool
Sinking Fund Calculator
Enter your goal, deadline, and paycheck frequency — get the exact amount to set aside each pay period. No signup, no bank link, instant result.
Fill in your goal details
to see your number.
What is a sinking fund?
A sinking fund is money you save gradually for a known future expense. Instead of scrambling when the bill arrives, you spread the cost across many paychecks so it barely registers each time.
The name comes from accounting — a company that "sinks" money into a fund over time to repay a future debt. But for personal finance, it simply means: save a little now so you don't panic later.
Common sinking funds include Christmas gifts, car repairs, annual insurance, holidays, medical expenses, and home maintenance. Unlike an emergency fund (for the unexpected), a sinking fund is for expenses you know are coming.
Christmas gifts
$500 over 12 months = $42/month
Car repairs
$1,200 over 24 months = $50/month
Vacation
$3,000 over 18 months = $167/month
How to use this calculator
Enter your target amount
How much do you need in total? Enter the full cost of your goal — car repair, holiday gifts, vacation, whatever it is.
Set your deadline
Pick the date you need the money by. The calculator works backwards from that date to figure out how many paychecks you have left.
Choose your paycheck frequency
Weekly, biweekly, or monthly — whatever matches how often you get paid. The result adjusts automatically.
Get your number
That's it. One clear per-paycheck amount. No formulas, no spreadsheet, no bank login.
The sinking fund formula
Paychecks remaining depends on your frequency: weekly = days ÷ 7, biweekly = days ÷ 14, monthly = days ÷ 30.44. The calculator handles all of this automatically — just enter your numbers above.
Sinking fund vs emergency fund — what's the difference?
Sinking fund
- For known, planned expenses
- Has a specific target and deadline
- You deplete it intentionally
- Examples: Christmas, car service, vacation
Emergency fund
- For unexpected, unplanned events
- No specific target date — always on standby
- You replenish it after using it
- Examples: job loss, medical bill, broken appliance
Ready to track multiple goals at once?
This calculator handles one goal at a time. Finchsave tracks all of them simultaneously — Christmas, car repairs, holidays, and more — and tells you one total to set aside each paycheck.