Free goal sheet: is my goal realistic?
Short answer: this is a one-page spreadsheet that answers whether a savings goal fits. Type in the goal, the date and the money you have free each month, and it shows what the goal needs each month, how that compares with what you have, and what each change would do.
Download the free goal sheet (.xlsx)
How do I use it?
- Download the file and open it in Excel, or import it into Google Sheets (File, Import, Upload).
- Fill in the three yellow cells: the goal amount, the date and the money free each month.
- Read the result under them. Add what you have already saved, or change the growth rate, if you want to.
- Use the link at the bottom to open the same figures in the online Goal check.
What is in the sheet?
| Part | What it shows |
|---|---|
| Three questions | The goal amount, the date, and the money free each month. Two optional cells for savings so far and yearly growth. |
| Workings | Months to go, savings grown to the date, what is still to reach, and the monthly amount the goal needs. |
| Result | Fits, fits with little room, does not fit, or already covered, with a sentence in plain words. |
| What each change would do | The monthly need if the date moves a year later, the goal the free money would reach by the date, and the amount to free up each month. |
How is it different from the online check?
The sums are the same. The sheet is for people who like to keep numbers in a file, change them freely and add their own columns. The online check adds a shareable result and lets you save the goal to a free account, where it is checked against your real income and spending.
Related
- Financial goal examples and how to set SMART money goals
- How to make a budget for beginners
- Monthly investment calculator
Frequently asked questions
Is the goal sheet free?
Yes. It is a free template. You do not need an account, and it is yours to keep and change.
Does it work in Google Sheets?
Yes. In Google Sheets choose File, then Import, then Upload, pick the file and choose to replace the spreadsheet or insert a new sheet. The formulas it uses are standard ones.
How does the sheet work out the monthly amount?
It counts the months to your date, grows any savings so far at the yearly growth rate, and finds the monthly deposit that closes the rest of the gap, with deposits at the end of each month. The same maths runs in the online Goal check, so the two agree.
What does Fits, with little room mean?
The goal needs about 80% or more of the money you have free each month. It fits, but any change in your month could push it out of reach.
Does the sheet send my numbers anywhere?
Nothing is sent to MoneyFrame. In Excel the file stays on your computer, and in Google Sheets it is stored in your own Google account like any other sheet. The link at the bottom opens the online Goal check with the same figures only when you click it.
For information only. Growth on savings is not certain, and results depend on the figures entered.