How the timeline is calculated
Each unfinished goal receives its regular monthly contribution every month. Any extra amount you enter is then given to the highest-priority unfinished goal. If that goal reaches its target and there is extra money left over, the remaining extra is passed to the next priority goal in the same month.
If you turn on redirect finished goals, a goal's regular monthly contribution becomes available for other goals after that goal is finished. Money freed by a goal that finishes during a month starts being redirected the following month. Goals that are already finished when you start the calculation can have their monthly contribution redirected immediately.
Two ways to prioritize
- Smallest Goal First: after each goal's regular monthly contribution is applied, extra money goes to the unfinished goal with the smallest remaining balance. This can help finish smaller goals sooner and create quick wins.
- Order Listed: extra money goes to the first unfinished goal in your list, regardless of its size. This is useful when you want to prioritize a specific goal because it is more important or urgent.
Neither strategy is always better. The best choice depends on your goal sizes, regular contributions, extra amount, and the order you want to fund your goals.
Worked example
Suppose you have two goals: one for 1,000 with a 100/month contribution, and another for 2,000 with a 100/month contribution. You also add 50 extra per month and choose Smallest Goal First.
The 1,000 goal receives 150 per month and reaches its target in 7 months. At that point, the larger goal has received 700 of its 2,000 target, leaving 1,300.
If redirecting finished goals is enabled, the first goal's 100/month contribution becomes available starting in month 8. The larger goal then receives 200/month (its regular 100 plus the redirected 100), so it finishes in 14 months total.
Frequently asked questions
What happens to a finished goal's monthly contribution?
If redirecting finished goals is enabled, that goal's regular monthly contribution is added to the money available for other unfinished goals, starting the following month. If the option is turned off, the contribution is no longer included in the calculator's goal funding.
How does Smallest Goal First work?
Each goal first receives its regular monthly contribution. The calculator then gives extra money to the unfinished goal with the smallest remaining balance. If that goal is finished and extra money remains, the rest goes to the next priority goal.
Which priority strategy should I use?
Choose Smallest Goal First if you want extra money to focus on the goal with the smallest remaining balance. Choose Order Listed if you want to decide the priority yourself, such as putting an urgent or more important goal first.
What happens if a goal cannot be reached with my current contributions?
The calculator simulates up to 100 years. If a goal is still unfinished after that, it shows Not reached within 100 years. Increasing the regular monthly amount or extra amount may help you reach the goal sooner.
Does this calculator include interest or investment returns?
No. The calculator assumes your savings grow only through the amounts you enter. It does not add interest, investment returns, taxes, fees, or inflation.