Goal Planner Calculator

All of us juggle multiple financial goals at once. From a blissful retirement to funding our children’s education to buying that dream home, managing these goals can be tough. Goal-based financial planning makes things easier. It is an approach through which investors identify and set specific financial goals and make personalised plans to achieve them. It allows investors to prioritise their goals, make realistic budgets, and track progress over time. With this method of planning, one can focus on each goal with more clarity.

A goal planner calculator can make this process even simpler. A financial goal calculator tells you how much you need to save and invest each month to achieve your goals. All you need to do is enter some basic information and let the goal calculator do the work.

What is a Goal Planning Calculator?

A financial goal planning calculator helps you plan how you can realise your financial dreams. It is a tool that estimates how much money you would need to save and invest each month in order to accumulate the future amount needed for the goal. A big advantage of using a goal planner is that you don’t have to calculate the future value yourself. You simply need to enter your goal’s present value, and the calculator does the rest by adjusting for inflation to give you a clear picture of your target. 

You also need to specify how far into the future you aim to achieve your goals, and what kind of returns you are expecting on the investments. Choosing a realistic tenure is important, as is entering the right return expectations that match your risk tolerance. A goal planning calculator also allows you to add any existing progress towards your goals. So if you’re not starting from scratch, the calculator can accommodate your current situation so a clearer and more accurate picture can be formed.

How Does the Financial Goal Calculator Work?

A financial goal planner takes into account different parameters such as your current savings, the present cost of your financial goal, the rate of inflation, the duration of the investment, and the return you expect on your investment. When you enter this information in the goal planning calculator, it uses the concept of the future value of money to estimate how much your investments will grow by the time you reach your financial goal. Then it displays the amount you will need to save each month to realise your financial dream.

Here’s the formula it uses to calculate the future value:

FV = PV (1+i)n


  • FV = Future Value
  • PV = Present Value
  • i = The expected rate of inflation
  • n = The investment duration in years

After the future value has been estimated, one can calculate how much money one would need to invest each month to accumulate the amount. For this, Excel’s PMT function can be used. Here’s the syntax for the PMT function:

=PMT(rate, nper, pv, fv, [type])


  • rate: The monthly expected rate of return
  • nper: The number of periods in months for the investment.
  • pv: The present value
  • [fv]: The future value you calculated previously
  • [type]: Use 0

Time to understand how the calculation is done with an example. Suppose Ram wants to know how much he needs to save each month to reach a goal in 10 years. He estimates the present value to be Rs. 15 lakh and expects his investment to return 12%. Let’s calculate assuming a 6% rate of inflation.

First, let’s calculate the future value of Rs. 15 lakh. 

Using FV = PV * (1+i)n


PV = 15,00,000

i = 6 = 0.06 in decimal

n = 10

FV = 1500000 * (1 + .06)10

FV = Rs. 26,86,271.54

Before using the PMT function, we must convert the annual rate of return into a monthly rate of return. 

Rate = 0.12/12 = 0.01

Now using the PMT function: =PMT(rate, nper, pv, fv, [type]) 

Rate = 0.01

Nper = 10 * 12 = 120

Pv = 0

[fv] = 26,86,271.54

[type] = 0

The result is Rs. 11,677.48

This means Ram needs to save approximately Rs. 11,700 each month to reach his goal. This calculation can be tedious and time-consuming, but a financial goal planner calculator can give you an accurate result in a second!

Financial Goal (₹)
Existing Investment (₹)
Expected Inflation (%)
Expected Return (%)
Number of Years
Monthly Investment Needed
Future Value of Goal
Future Value of Existing Investment

Benefits of Goal Planning Calculator

Some of the perks of using Fincart’s goal planning calculator are:

How to Use the Fincart Goal Planning Calculator?

Let’s talk about how you can use Fincart’s goal planning calculator. Follow these simple steps to estimate how much you need to save and invest every month to reach your desired financial goal:

Goal Planner Calculator

A mutual fund sip calculator can help you in many ways:

The ClearTax Financial Goal Calculator helps you to build your savings and achieve financial goals. You get a clear picture of the future value of your financial goal and the amount of money you must set aside every month to reach there.

Yes, both the calculators work on the future value concept. However, the ClearTax Financial Goal Calculator can be used to calculate the future value of any financial goal. The child education planning calculator focuses on a specific financial goal which is the future value of higher education.

The ClearTax Financial Goal Calculator shows you the future value of your financial goal. You can select the financial instrument that offers a return above inflation over some time. You can adjust the duration and the expected rate of return on the investment using the calculator, and calculate the monthly amount to be set aside. It helps you to select the investment based on your risk profile.

The ClearTax Financial Goal Calculator is an easy-to-use calculator. You can access the calculator from the comfort of your home and instantly calculate the monthly savings to achieve financial milestones.