Savings Goal Planner

This tool helps users reverse-engineer their financial goals by calculating how much they need to save each month to reach a desired target within a chosen timeframe.

Purpose:

• Determine the monthly savings needed to reach a goal by a specific date

• Visualise projected savings growth over time

• Adjust inputs to test savings strategies and timelines

Inputs Required:

1. Primary Financial Goal – e.g. buying a home, retirement, education, emergency fund

2. Target Savings Amount – Total amount you want to save (e.g. £1,000,000)

3. Current Savings – Amount already saved toward the goal (e.g. £10,000)

4. Annual Interest Rate – Expected growth from interest or investment returns

5. Saving Period – Number of months or years until the target date

Outputs Displayed:

• Monthly Savings Required – The amount you need to set aside each month to hit your target

• Projected Savings Growth Chart – Visual timeline of accumulated savings, including compound growth

✅ Bonus Insight: See how even small increases in time or interest rate reduce monthly savings required.

How to Use It:

1. Select your savings goal from the drop-down menu

2. Enter your target amount, current savings, estimated interest rate, and timeline

3. Review the monthly savings amount required

4. Adjust assumptions to test what’s realistic and sustainable

Who It’s For:

• Ideal for anyone with a time-bound financial goal

• Great for visual learners and goal-oriented savers

• Useful for setting targets for large life events (home, business, education, retirement)

Personal Finance Hack:

Break large goals into smaller milestones. Reaching mini-targets builds motivation and confidence while keeping long-term saving on track.

Take Action Today!

✅ Pick one financial goal to plan for
✅ Enter your numbers into the Savings Goal Planner
✅ Set up an automatic monthly transfer based on the result
✅ Revisit your progress every 3–6 months and adjust as needed

Turn your goals into a plan—and your plan into action!