Project saving: set a goal, a date and a monthly amount
AmanaFi team · Updated · 1 min read
A project funded by savings rests on three numbers: the target amount, the deadline and the resulting monthly sum. With these three numbers the goal becomes a plan.
The formula
Monthly sum = (target − already saved) ÷ months left. For 12,000 DH in 12 months with no starting savings, you need 1,000 DH a month. The figures are indicative: use your own.
Check it is sustainable
Compare the monthly sum with your money left to live on. If it weighs too much, lengthen the period, reduce the goal or look for an alternative, rather than giving up halfway.
Several projects at once
When projects compete, rank them by urgency: necessities before wants, and an emergency fund before everything. Spreading a project out beats borrowing to reach it faster.
Frequently asked
Do I need a separate account per project?
It is not required, but tracking each project separately avoids mixing sums. An app lets you do it without multiplying accounts.
Put it into practice with AmanaFi
Period budget, projects, debts and loans, zakat: free, on mobile.
Open the app