Sinking Fund Calculator
Plan for any known future expense — car repairs, vacations, taxes, holidays, home maintenance. Enter your savings goal, what you've saved so far, and your target date to see exactly how much to set aside each month. Includes optional interest and a month-by-month savings schedule.
Name your sinking fund to stay motivated and organized.
The total amount you need saved by your target date.
How much you've already saved toward this goal.
How many months until you need the money.
Annual yield on your high-yield savings account. Set to 0 to skip.
💾 Monthly Contribution for Car Repair Fund
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Total Contributions
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Interest Earned
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% of Goal Met
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📊 Month-by-Month Savings Schedule
| Month | Contribution | Interest | Balance |
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Contributions are made at the start of each month. Interest is calculated on the prior month's balance.
💡 What this means
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📚 Master your sinking funds
📚 See top-rated budgeting & sinking fund books on Amazon →📝 How to use this sinking fund calculator
- Name your fund — what are you saving for? Common examples: car repair, vacation, property tax, holiday gifts, home maintenance, annual insurance.
- Enter your savings goal — the total amount you need by your target date. For annual expenses, this is the full yearly cost.
- Enter current savings — how much you've already set aside for this goal.
- Enter months until needed — your deadline. For annual expenses, this is typically 12 months.
- Enter interest rate (optional) — the APY on your high-yield savings account. This reduces your required monthly contribution.
- Click Calculate — see your monthly contribution, total contributions, interest earned, and a month-by-month savings schedule.
📌 5 tips for effective sinking funds
- ✓ Use separate accounts for each fund. Don't mix your car repair fund with your vacation fund. Use sub-accounts at your bank (Ally, Capital One 360, and SoFi all offer these) so you can see each fund's progress individually.
- ✓ Start with 3-5 sinking funds. The most common starting funds are car maintenance, home repairs, annual insurance, holidays/gifts, and vacation. Add more as your budget allows. Each fund should have a clear purpose and target date.
- ✓ Automate your contributions. Set up automatic transfers on payday so the money moves before you can spend it. This is the single most effective way to stay on track with sinking funds.
- ✓ Review and adjust quarterly. If your car repair fund is fully funded but your vacation fund is behind, redirect contributions. Life changes — your sinking funds should adapt. Revisit your estimates every 3 months.
- ✓ Don't confuse sinking funds with emergency funds. Sinking funds are for planned expenses (you know what and when). Emergency funds are for unplanned expenses (job loss, medical bills). Build both — sinking funds prevent debt for known costs, emergency funds cover the unknown.
Disclaimer: This calculator provides sinking fund estimates for educational and budgeting purposes only. Interest calculations assume monthly compounding with contributions made at the start of each month. Actual savings results will vary based on your account's compounding frequency, deposit timing, and rate changes. Consult a financial advisor for personalized budgeting advice.
Related Tools
A sinking fund is one piece of your savings toolkit. These six calculators cover the rest — from emergency funds and savings goals to debt payoff and compound interest.
- Emergency Fund Calculator — calculate how much you need for unexpected expenses, the unplanned companion to your planned sinking funds.
- Savings Goal Calculator — calculate how long to reach any savings target, how much to save per month, or when you'll hit your goal with compound interest.
- Savings Challenge Generator — generate a fun 30-day, 52-week, or custom savings challenge to build your sinking fund habit.
- Debt Payoff Calculator — sinking funds prevent debt for planned expenses; this tool helps you pay off existing debt with snowball or avalanche methods.
- Compound Interest Calculator — see how the interest on your sinking fund grows over time, and how compounding accelerates your savings.
- 50/30/20 Budget Calculator — allocate your income across needs, wants, and savings, with sinking funds falling in the savings category.