Savings Goal Calculator: How Much to Save Monthly for Any Goal
Reverse-Engineering Any Financial Goal
Whether it’s a vacation, wedding, car, or home renovation — every goal has three variables: target amount, timeline, and expected returns. Fixing any two tells you the third. A savings goal calculator reverses the SIP formula to tell you exactly how much to save monthly.
Monthly Savings Needed for Common Goals
| Goal | Target | Timeline | At 7% (FD/RD) | At 12% (SIP) |
|---|---|---|---|---|
| International vacation | ₹3L | 2 years | ₹11,600 | ₹11,100 |
| Wedding fund | ₹10L | 5 years | ₹14,000 | ₹12,200 |
| Car purchase | ₹8L | 3 years | ₹20,500 | ₹18,800 |
| Home renovation | ₹5L | 18 months | ₹26,800 | ₹26,000 |
For short-term goals (under 3 years), the difference between FD and SIP returns is minimal, so use guaranteed instruments like RD or FD. For goals beyond 5 years, equity SIPs significantly reduce the monthly savings needed.
Inflation Adjustment
If your goal is more than 3 years away, inflate the target: ₹10L at 6% inflation for 5 years = ₹13.4L. Always plan for the inflated amount. Use the savings goal calculator for precise monthly targets.