A savings goal works when the plan fits the salary and you can see whether you're on track. This template does both for a first ₹1 lakh (or any goal you type): it tells you how much to set aside each month and how long it takes, then tracks what you actually saved against the plan.
⬇ Download: 1 lakh savings planner (.xlsx, free)What's in the template
- Plan: in-hand salary, the share you'll save, the goal, the interest where the money sits (savings account, RD or liquid fund) and any lump sums you expect.
- Results: the saving a month, months to goal with and without interest, the daily equivalent, and the monthly saving needed to finish in one year.
- Tracker: 36 months of planned against actually saved, a running total and the gap, so a bad month is visible straight away.
How to use it
- Start with a saving rate you can keep: 10% is comfortable, 20% is tight, 30% is determined.
- Count only half of expected bonuses and gifts; they rarely arrive in full.
- Each month, type what you actually saved in the tracker; the gap column tells you whether to catch up.
The formulas
Savings plan formulas in Excel
Saving a month: =B5*B6
Months to goal (interest): =ROUNDUP(NPER(B8/1200,-B12,-B9,B7),0)
Monthly saving for 1 year: =-PMT(B8/1200,12,-B9,B7)
Running total (tracker): =SUM($C$2:C2)
Frequently asked questions
- How much should I save a month to make 1 lakh in a year?
- Roughly ₹8,000 a month, a little less if the money earns interest in an RD. The template works out the exact figure for your interest rate and any lump sums.
- Where should I keep savings for a 1 lakh goal?
- Somewhere safe and easy to reach: a recurring deposit, a liquid fund or a high-interest savings account. Not shares, for a goal only a year away.
- Is there a savings plan Excel template for any amount?
- Yes. Change the goal cell from ₹1,00,000 to any target; everything else recalculates.