Gridwork template
Savings goal spreadsheet template
Set the goal, what you’ve saved so far, how much you put in each month and the interest rate. NPER works out how many months it will take, EDATE turns that into a date, and the table shows the balance month by month.
What’s in it
The template opens with example numbers you can type over, and a chart that follows the numbers. Here’s the first sheet as it opens:
| A | B | |
|---|---|---|
| 1 | Savings goal | |
| 2 | Goal | $5,000.00 |
| 3 | Saved so far | $1,250.00 |
| 4 | Each month | $250.00 |
| 5 | Interest (a year) | 3% |
| 6 | Months to go | 15 |
| 7 | Reached by | 5 Feb 2028 |
| 8 | Progress | 25% |
| 9 | ||
| 10 | Month | Saved |
| 11 | 1 | $1,503.13 |
| 12 | 2 | $1,756.88 |
| 13 | 3 | $2,011.28 |
| 14 | 4 | $2,266.30 |
| 15 | 5 | $2,521.97 |
| 16 | 6 | $2,778.27 |
| 17 | 7 | $3,035.22 |
| 18 | 8 | $3,292.81 |
| 19 | 9 | $3,551.04 |
| 20 | 10 | $3,809.92 |
| 21 | 11 | $4,069.44 |
| 22 | 12 | $4,329.62 |
The formulas it uses
- B6:
=ROUNDUP(NPER(B5/12,-B4,-B3,B2),0)gives 15. ROUNDUP: rounds away from zero; NPER: how many periods to pay off or reach a goal. - B7:
=EDATE(TODAY(),B6)gives 5 Feb 2028. EDATE: the date some months on; TODAY: today’s date. - B8:
=B3/B2gives 25%. - B11:
=B3*(1+B5/12)+B4gives $1,503.13. - B12:
=B11*(1+$B$5/12)+$B$4gives $1,756.88.
Tips
- Raising the monthly amount usually moves the date more than a better interest rate does: try both.
- Progress is formatted as a percentage: it’s simply what you’ve saved divided by the goal.
- For a goal without interest, put 0% in the interest cell.
Questions
What does NPER do?
NPER works out how many payments it takes to grow from what you have to the goal at the rate you give, here the yearly rate divided by 12 for months.
Why does the date change every day?
Reached by counts the months on from TODAY(), so it moves forward as time passes until you save more.
Can I open it in Excel or Google Sheets?
Yes: in Gridwork, More then Save as Excel (.xlsx) keeps the formulas. It’s free, with no account, and the file stays on your device until you save it.