If you are in the market for a new car, this car savings tracker printable might be a great tool to help you save more and stay on track! It’s free and you don’t need an email, so grab it below.
This car savings tracker can either be used to save up for a new car or to pay off an existing loan! Stay motivated by visually seeing how much you save.
New Car Savings Tracker Printable
If you’re looking for a way to make saving more fun, this coloring page printable will help you save more and reach your goals faster!
Why You Need a Savings Tracker
I don’t know about you, but if I don’t have a plan for my money, I will just spend it in day-to-day spending. But at the beginning of each year, I like to sit down and think about the upcoming year and all my financial goals.
This might include eventually buying a new car or paying down my loan faster so I don’t have to pay interest. A hack I love, is once you pay off your car, continue putting the same amount into a high yield savings account and by the time you need a new car several years later, you can buy it in cash!
My husband and I have bought the last three cars in cash by using this method, and it has saved us so much on interest in the long run.
Having a savings tracker to keep your most important goals right in front of you, helps you stick to and achieve your goals!
A little goes a long way! Putting away $20 here and $30 there can really make a difference in the long run!
<<Download the free vacation savings tracker and start saving>>
The Benefits of a Savings Tracker Coloring Page
Another benefit of a tracker like this is it will help build a habit of saving. Each time you either transfer money from a checking account to a savings account or put cash in an envelope, you can color in one of the little pictures.
This cue and reward system builds a strong habit of saving. The visual picture gives you something to work towards and helps you make decisions that are in alignment with what will truly bring you joy or meet your needs.
Other post: How to Build Good Habits That Stick and Drop the Bad Ones
How to Use This Savings Printable Template
This is a fun printable designed to add a little creativity and encouragement. You can choose how much you want each symbol to be worth.
If you have $5,000 left on your car loan, you simply divide $5,000 the number of symbols to get how much you should save each month. If those payments are too much, feel free to print off this sheet multiple times and store in a home management binder! Little by little makes a difference.
This is a super easy way to stay motivated and to remember your goals!
If you don’t have a home management binder, keep it on your fridge or an easy to see place to mark it off on a regular basis.
Frequently Asked Questions about Saving for a New Car
How much should I save each month for a car?
As I mentioned before, we choose to “pretend” we have a car payment each month and put that amount into an investment account. Since normally we don’t buy new cars until 5-10 years down the road, the money can grow in the market. Of course, everyone should consider their own ability to handle this financial risk!
I’m not a financial advisor but this has worked for us. In general the market returns 7% on average per year since its inception but even higher in recent years.
Where should I keep my savings fund?
This answer is also variable.
Many people create a separate savings account just for specific savings goals so that it is easier to track. Others use the envelope system or a High Yield Savings Account.
Others use a money market fund.
As I mentioned before, opening a taxable brokerage account might be a great step to saving for big purchases like this that are down the road.
The final thing you should know about this car savings tracker printable…
It’s entirely free so don’t forget to grab it today (you don’t even need your email!)
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