$3,000 in savings? I'd buy these 3 ASX 200 shares to target $30 a week in passive income!

I prefer ASX 200 shares paying fully franked dividends for their potential tax advantages.

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Investors with $3,000 in savings looking to build a $30 weekly passive income stream have a number of quality S&P/ASX 200 Index (ASX: XJO) dividend shares to choose from.

My preference tends to go towards larger companies that pay fully franked dividends. That should allow me to hold onto more of that cash come tax time. Or better yet reinvest it, as we'll look at below.

I also prefer ASX 200 stocks with a long track record of making dividend payments. That decreases the odds that I unexpectedly fall short of my passive income goal.

Now when making my dividend investments, it's important I keep in mind that past performance doesn't guarantee future performance. When it comes to dividends that means future payouts could be lower or higher than the trailing yields of the past 12 months.

With that said, here are the three ASX 200 shares I'd target for $30 a week, or $1,560, in passive income with $3,000 in savings.

Three ASX 200 shares for passive income

First up we have ASX 200 energy share Woodside Energy Group Ltd (ASX: WDS).

Over the past 12 months, the company has paid out a total of $3.40 per share in fully franked dividends.

At Friday's closing price of $31.40, Woodside shares trade on a trailing yield of 10.82%. Very tidy.

Keeping my investments in different sectors to increase diversification, I'd next target ASX 200 financial stock Australia and New Zealand Banking Group Ltd (ASX: ANZ) for that $30 weekly passive income.

ANZ declared a final, partly franked dividend of 94 cents per share this past week, bringing the full-year payout to $1.75 per share.

At Friday's closing price of $24.07 per share, that equates to a yield of 6.44%.

And the third company I'd buy with my $3,000, again operating in a different market, is ASX 200 retail stock JB Hi-Fi Ltd (ASX: JBH).

JB Hi-Fi paid an all-time high, fully franked interim dividend of $1.97 per share on 10 March. The company paid a final dividend of $1.15 per share on 8 September, bringing the full-year passive income payout to $3.12 per share.

At Friday's closing price of $47.31 that comes out to a trailing yield of 6.59%.

Be patient

Now, if I were to invest an equal amount in these three ASX 200 dividend shares I'd earn an average yield of 8.3%.

That would give me $4.79 a week, or $249 a year in passive income. That's well short of my goal.

But that's okay.

Investing is a long game, and this is where the power of compounding can make all the difference.

If I reinvest those dividends into these ASX 200 shares, I should hit my $30-a-week passive income goal in 23 years.

That's $1,560 a year, all from that $3,000 investment today.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Jb Hi-Fi. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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