Glossary
Savings Goal Timeline Glossary (Key Terms)
Quick definitions for the terms you will see in the Savings Goal Timeline Calculator and related pages. Skim the list, then jump into the tool with clearer labels.
Published: December 22, 2025 · Updated: December 22, 2025 · By FinToolSuite Editorial
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Use this page to decode calculator labels and links out to deeper explainer pages.
Planning with variable income or multiple goals? See irregular income planning and prioritizing multiple goals.
Disclaimer
Educational purposes only; not financial advice. Definitions are general; examples are illustrative; outcomes are not guaranteed. Fees, taxes, inflation, and rules vary by country and provider.
Core inputs
- Goal amount
- The target you want to reach. Example: goal £5,000.
- Starting balance
- What you already have set aside for this goal. Example: if the goal is £3,000 and you have £300 saved, starting balance = £300.
- Contribution
- The amount you add each period (weekly, monthly, etc.). Keep the number realistic for your cashflow.
- Contribution frequency
- How often you contribute (weekly, every 4 weeks, monthly). Frequency affects timing in the model.
- Scenario
- A single run with a set of inputs (goal, starting balance, contributions, assumptions). Save or note multiple scenarios to compare.
- 0% baseline
- A scenario with rate = 0% to show pure saving speed before adding assumptions.
Time & progress
- Timeline / horizon
- How long you plan to save (months or years). Example: 18 months.
- Milestone
- Checkpoints such as 25%, 50%, 75%, 100% of the goal. Example: 25% of £4,000 = £1,000.
- Start of period vs end of period
- Whether contributions are assumed at the beginning or end of each period. Earlier contributions can slightly increase modeled balances if a rate is used.
- Multiple goals
- Managing more than one goal. You can split contributions or prioritize by deadline/importance. See multiple goals.
Growth & assumptions
- Rate assumption
- An optional growth input (not guaranteed). Use low/base scenarios. See rate assumptions.
- Compounding
- Growth applied in steps over time. Example: monthly compounding applies growth 12 times a year.
- Compounding frequency
- How often growth is applied (daily, monthly). More frequent compounding can nudge modeled growth higher for the same nominal rate.
- Principal
- The money you put in: starting balance plus contributions.
- Growth / interest / earnings
- The modeled increase from the rate assumption. Example: if contributions and principal total £1,800 and the model shows £1,850, growth is £50 (illustrative).
- Nominal return
- A rate that does not adjust for inflation.
- Real return
- A rate that attempts to account for inflation. Use as a scenario only; outcomes are not guaranteed.
Real-world adjustments
- Inflation
- Rising prices over time. For long goals, you can test a higher goal amount to approximate future costs.
- Fees
- Costs that reduce net growth. Example: modeling a net rate (assumption minus fees) to see a conservative projection.
- Net return
- A rate after considering fees (and optionally taxes). Use as a planning input; actual outcomes vary.
- Tax drag
- A conceptual reduction in growth from taxes. Rules vary by country; treat as a scenario, not a prediction.
- Irregular income
- Variable contributions because income changes. Try “minimum vs stretch” scenarios. See irregular income planning.
- Catch-up
- Adjusting after missed contributions (e.g., small temporary increase or short deadline extension). Run as separate scenarios.
- One-off deposit / top-up
- A single extra contribution that increases the starting balance or mid-plan balance. Example: adding £200 once to close a gap.
Where to go next
Open the calculator
Apply the definitions with your own goal, contributions, and timelines.
Open the Savings Goal Timeline Calculator