Identify your long-term savings goal: Home (savings for 20% down) 1. How much do you need to save for your goal? Hint: Graduate school costs approximately $36,000. A new car costs about $25,000, estimated down payment on a home would be 10% to 15% of the total cost of the home. a. What is the total cost of the item you are saving for? b. What is the down payment you would need (only applicable for down payment on a house)? 2. How many years do you need to reach our goal? 3. Divide your goal by the number of years you need to reach it? 4. Goal divided by number of years = amount per vear 5. Amount per year divided by 12 months = amount per month 6. Take the amount per month divide it by 4 weeks per month = amount per week To save for your long-term goal you need to put away amount per week for of years. Identify your long-term savings goal: Home (savings for 20% down) 1. How much do you need to save for your goal? Hint: Graduate school costs approximately $36,000. A new car costs about $25,000, estimated down payment on a home would be 10% to 15% of the total cost of the home. a. What is the total cost of the item you are saving for? b. What is the down payment you would need (only applicable for down payment on a house)? 2. How many years do you need to reach our goal? 3. Divide your goal by the number of years you need to reach it? 4. Goal divided by number of years = amount per vear 5. Amount per year divided by 12 months = amount per month 6. Take the amount per month divide it by 4 weeks per month = amount per week To save for your long-term goal you need to put away amount per week for of years