Savings Goal Priority Calculator
Rank up to 50 savings goals by priority, deadline and monthly shortfall. See which are on track and the extra amount each goal needs a month. How it works
Use the Savings Goal Priority Calculator
About the Savings Goal Priority Calculator
A $5,000 goal with $500 saved and 12 months left needs $375.00 a month; contributing $200 leaves a $175.00 monthly shortfall, and at that pace the goal takes 23 months. The savings goal priority calculator works this out for every goal and lists them by score = priority weight × deadline weight ÷ shortfall factor, lowest first.
Ranking score by priority and deadline
| Priority | Under 6 months | 6 to under 12 months | 12 months or more |
|---|---|---|---|
| High | 0.25 / 0.125 | 0.5 / 0.25 | 1 / 0.5 |
| Medium | 0.5 / 0.25 | 1 / 0.5 | 2 / 1 |
| Low | 1 / 0.5 | 2 / 1 | 4 / 2 |
First figure: a goal that is on track (shortfall factor 1). Second: a goal with no monthly contribution (factor 2). Lower scores are listed first, and a fully funded goal goes last.
Three goals ranked
| Goal | Target, saved, contribution | Priority and deadline | Needed a month | Shortfall a month | Score |
|---|---|---|---|---|---|
| 1. Emergency fund | $6,000, $1,000, $300 | High, 12 months | $416.67 | $116.67 | 0.78 |
| 2. Vacation | $3,000, $0, $100 | Low, 8 months | $375.00 | $275.00 | 1.15 |
| 3. Car | $10,000, $2,000, $250 | Medium, 24 months | $333.33 | $83.33 | 1.60 |
Together the three need $1,125.00 a month against $650.00 contributed.
Frequently asked questions
- How much do I need to save each month for a goal?
- (Target − current savings) ÷ months to the deadline. $6,000 with $1,000 saved and 12 months to go needs $416.67 a month; contributing $300 leaves $116.67 a month short.
- Which savings goal should I fund first?
- The one with the lowest score, listed at the top. Lower weights mean more urgent, so High priority (0.5) and a deadline under 6 months (0.5) both pull a goal up the list. In the example the high-priority emergency fund scores 0.78 and comes before a low-priority vacation due sooner, at 1.15.
- Why does a bigger shortfall move a goal up?
- The shortfall factor is 1 + monthly shortfall ÷ amount needed a month, and the score is divided by it, so a goal that is further behind gets a lower score. The vacation needs $375.00 a month and gets $100, a factor of 1.73.
- Are the ranking weights a financial standard?
- No. They are a rule of thumb chosen for this tool and are shown on the page. Use the ranking as a starting order and change a goal’s priority if the order looks wrong to you.
- Are my goals saved?
- Yes, up to 50 goals, in this browser’s local storage until you press Clear Saved Values. Below the ranking the page adds up what all goals need a month and what you contribute: $1,125.00 against $650.00 in the three-goal example.
- Can it split one monthly budget between my goals?
- Yes. Enter a total monthly budget, and optionally savings not yet assigned, and they are handed out in rank order, each goal taking what it needs first. $650 a month across the three goals above covers the emergency fund ($416.67), gives the vacation $233.33 of $375.00, $141.67 short, and leaves the car with nothing. Adding $1,000 of unassigned savings cuts the emergency fund’s need to $333.33 a month, so the vacation gets $316.67.
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