Goal Planner — how much to save each month for a goal
A trip, a phone, a home down payment, an emergency fund: enter the amount and the deadline to see what to put away each month — invested, or simply saved.
🎈 In today’s money at 6% inflation
How it is calculated
The goal is entered at today’s price and grown by inflation to what it will cost on the deadline. If the money is invested at a return, each monthly amount grows until the deadline, so you need to put in less. Money you have already saved also grows.
The planner shows both: the monthly SIP needed at your expected return, and the plain monthly saving with no return, for contrast.
Goal = Price today × (1 + inflation)^years Monthly SIP = (Goal − Saved × (1 + i)ⁿ) × i ÷ [((1 + i)ⁿ − 1) × (1 + i)] i = annual return ÷ 12 ÷ 100, n = months
Questions
How much should I save every month for a goal?
Divide what is left by the months to go if you just save; invest it and the monthly amount drops because returns do part of the work. The planner shows both.
Why does the goal planner add inflation?
Because the thing you are saving for gets dearer every year. Enter the price today; the planner grows it at your inflation rate to what it will cost on the deadline, and plans for that amount.
Should short-term goals be invested in equity?
Usually not. For goals under 3 years, a fixed deposit or debt fund is safer. Use a lower expected return for those.
Can I track a goal without moving money?
Yes. In Spendly, money kept for a goal stays in your bank and simply stops counting as spendable. You can also link an investment to a goal.