Pocketify
How much should I save each month?
Short answer: aim to save 20% of your take-home pay, the savings share of the 50/30/20 rule. Use it in this order: an emergency fund of three to six months of essential costs first, then goals with a date, where monthly saving = (goal − already saved) ÷ months left. If 20% is out of reach, start smaller.
Start with a share of your pay
The simplest answer is a percentage. The 50/30/20 rule splits take-home pay into needs, wants, and 20% for savings and debt repayment. It is a rule of thumb, not a law, but it gives you a number to start from today.
Move the money on payday, before you spend anything. Savings that wait for the end of the month usually turn into spending.
Build your safety net first
Before saving for anything else, build an emergency fund. A common guideline is three to six months of essential costs: housing, food, utilities, transport, insurance and minimum debt payments. Aim higher if your income is irregular or others depend on you.
The emergency fund calculator works out your target and the month you reach it at your monthly amount.
Give every goal a date
For a holiday, a laptop or a deposit, the monthly amount comes from one division:
Monthly saving = (goal − already saved) ÷ months until you need it.
If the goal has no deadline, flip it: decide what you can save each month and see when you get there. The savings goal calculator does both, and includes interest if your savings account pays any.
Don't forget yearly costs
Car insurance, gifts and annual subscriptions land once a year and break a monthly budget. Divide each by the months until it is due and set that aside too. The sinking funds calculator lists them in one table.
The order, in one table
| Step | Save for | Tool |
|---|---|---|
| 1 | A small starter buffer for surprise bills | Emergency fund |
| 2 | High-interest debt, if you have any | Debt payoff |
| 3 | The full emergency fund | Emergency fund |
| 4 | Yearly costs you know are coming | Sinking funds |
| 5 | Goals with a date | Savings goal |
When 20% isn't possible
Save what you can, even a small fixed amount, and raise it when a bill ends or your pay goes up. To find room, see where the money goes: the budget calculator shows what is left after bills, and the daily spending limit calculator turns that into a number for today.
Keep the number on your phone
Pocketify lets you set a monthly budget, log each spend in seconds and see what is left, so you know whether this month's savings are on track. Your data stays on your phone.
Frequently asked questions
Is saving 20% of my income enough?
For most people it is a solid target: it is the savings and debt share of the 50/30/20 rule. It is a rule of thumb, not a requirement. If you are saving for something large with a fixed date, the savings goal calculator tells you the exact monthly amount, which may be more or less than 20%.
Should I save a share of gross pay or take-home pay?
Use take-home pay, the amount that actually lands in your account. The 50/30/20 rule is written for after-tax income, and it is the money you can actually move on payday.
How much should I save if I have debt?
Keep a small buffer first so a surprise bill does not go back on a card. Then put most of your 20% toward high-interest debt, and finish the full emergency fund once that debt is gone. The debt payoff calculator shows the order and your debt-free month.
What if I can't save anything this month?
Then save nothing this month and keep tracking. A month with no savings is not a failed plan. Look at where the money went, pick one cost to trim, and start again with a small fixed amount next payday.
Should I save the same amount every month?
A fixed amount moved on payday is the easiest to keep. If your income varies, save a percentage instead, so a good month saves more and a slow month still saves something.