How Goal-Based Financial Planning Transformed My Savings
A 20-something’s real journey from chai breaks to SIPs, goal planning, and building wealth—one smart move at a time.
It wasn’t a crisis. It wasn’t a dramatic moment. It was just… a quiet Sunday afternoon. I was sipping chai, scrolling through my investment app, when a tab caught my eye:
“Track Your Goals.”
I tapped it, half-curious. It asked: “What are you saving for?”
I paused. I had SIPs running, some savings in my bank, and insurance sorted. But this question made me uncomfortable — not because I didn’t know the answer, but because I had never really written it down.
Now that I’ve protected my future, what am I actually building towards?
That was the day I finally sat down with my future. Not the vague, dreamy version. The real one.
And that was the beginning of my goal-setting journey.
I didn’t want to just “save.” I wanted to save for something. The problem? I had no idea how to start.
Why Goal Planning Felt Like the Missing Puzzle
We talk a lot about investing, SIPs, mutual funds, PPFs, and stocks. But rarely do we stop to ask why we’re investing.
That night, I realized I wasn’t just working for money. I was working for freedom, for experiences, for security, and for joy. If these emotions were the “why,” then goal planning would be the “how.” It gave those feelings a financial shape.
Most of us treat financial goals vaguely, “I want to be rich someday,” or “ghar lena hai.” But real goal planning is more than that. It’s not just a dream; it’s a dream with numbers, a timeline, and a strategy. It’s emotional math.
I started asking myself four simple but powerful questions:
What do I want?
When do I want it?
How much will it cost in the future, not just today?
And what’s my plan to reach that amount?
That’s when everything started to click. My money wasn’t just being saved, it was being assigned a mission.
The First Three Goals That Gave My Savings a Soul
I sat with a notebook and asked myself:
What do I want to achieve in 3, 5, and 10 years?
How much will it cost in the future, adjusted for inflation?
How much should I start saving today?
After hours of overthinking, YouTube research, and Excel experiments, I finalized my first three realistic, achievable goals.
Goal 1: Buy My First Home by 30
Let’s be real. Owning a home is a big Indian dream—and mine too. Not a 3BHK in Mumbai, but a 1BHK in a decent Tier 2 city where I might work or settle.
Current Cost (2024): ₹30 lakh
Future Cost (2034, at 6% inflation): ₹54 lakh
Down Payment (20%): ₹10.8 lakh
Loan (80%): ₹43.2 lakh
EMI (20 years @ 8.5%): ₹37,400/month
SIP Needed for ₹10.8L in 10 years (@12%): ₹5,000/month
I created a dedicated SIP named “DreamHome2034.” I invest monthly in a hybrid fund to balance growth and safety. Seeing it rise is like watching bricks being laid for my future.
I’ve also started reading about real estate trends, housing schemes, and government subsidies. You never know what benefit you might qualify for if you’re early and informed.
Goal 2: Buy a Reliable Car at Age 26
It doesn’t have to be fancy. I just want a personal car for traveling, road trips, and comfort.
Current Cost (2024): ₹8 lakh
Cost at 26 (2029): ₹11 lakh
Down Payment (30%): ₹3.3 lakh
Loan (70%): ₹7.7 lakh
EMI (5 years @ 9%): ₹16,000/month
SIP Needed to Reach ₹3.3L in 5 years: ₹4,500/month
I’ve marked this SIP as “MoveFree2029.” Even on a tight budget, I contribute at least ₹1,000–₹2,000 monthly, increasing as my income grows.
A car, for me, isn’t just a convenience. It’s confidence. It’s safety. It’s freedom.
Goal 3: Solo Japan Trip by Age 24
Some people crave Europe. I want cherry blossoms, sushi trains, and Shinkansen rides.
Cost Today: ₹2.5 lakh
Cost After 4 Years (at 7% inflation): ₹3.3 lakh
SIP Needed: ₹5,200/month for 4 years
I fund this using freelancing income. Every Canva template I sell or Instagram post I write contributes to my “Wander Fund.”
Travel is my recharge button. This trip is more than a vacation; it’s a celebration of freedom and self-growth.
The Google Sheet That Made My Dreams Real
Tired of calculators that told me nothing, I made my own:
I also added columns for "Emergency Fund," "Short-Term Joys," and a SIP tracker. This one sheet turned scattered dreams into measurable missions.
It’s a living document. I update it every month. I even added a column for “Why This Goal Matters” to remind myself on tough days.
Problems I Faced (and Fixed)
Inflation Misunderstanding: I used today’s cost for future goals and felt overconfident. My Excel formula fixed that quickly.
Overcommitting: Initially, I thought I could save ₹10K from my ₹15K income. Unrealistic. I now follow a 50-30-20 split for needs, wants, and future.
Short-term guilt: I felt bad spending money for fun. But I learned that budgeting for joy is as important as budgeting for EMIs.
Lack of Prioritization: I wanted everything at once. Now I pace myself and plan around priorities and timelines.
How I Managed on ₹15,000/month
I get it—this sounds impossible. So here’s how I made it work:
Income Split:
₹6,000 – Needs (food, data, CFA books)
₹4,000 – SIPs (car + home)
₹3,000 – Freelance income bonus → Travel SIP
₹2,000 – Emergency fund / small joys
I Took These Steps:
Monetized Canva & writing skills
Used apps like Jar, CRED, and Groww “buckets”
Rewarded myself with small wins (like ₹100 per goal-month consistency!)
Choose low-cost index funds for stability and growth
Started investing in G-Sec via RBI Retail Direct for my emergency corpus
Automated all SIPs so I never “missed” investing
Bought a term plan early so I could avoid higher premiums later
The Unsung Hero: My Emergency Fund
Before the dream home, before the solo Japan trip, before the car—I built a quiet little warrior in the background: my emergency fund.
No one claps for it. It doesn’t sparkle on Instagram. But it’s the reason I sleep well at night.
Think of it as the financial version of a fire extinguisher. You hope you never have to use it… but if something catches fire—health, job, phone, or life—you’re glad it’s within reach.
I started with a goal of ₹30,000. Not much, but enough to cover two months of absolute bare-bones living—food, rent, and a little sanity. I split it between a liquid mutual fund and RBI Retail Direct’s G-Secs. Both are boring. But boring is beautiful when chaos hits.
This fund isn’t touched for Zomato cravings, weekend shopping, or last-minute sales. It’s sacred. It exists for life’s “oh no” moments—not “yay” ones.
And here’s the truth: Having this cushion made me brave.
It gave me the confidence to chase long-term goals without the constant fear of “what if something goes wrong?” Because if something does go wrong—I’ve already planned for it.
So if you’re reading this and wondering, “Where do I even begin?” — start here. ₹500 a month. Auto-debit it. Forget it exists. But when life surprises you (and it will), this little fund will quietly whisper, “I got you.”
The Day I Shared This With My Parents
One evening, I sat with my parents and explained my plan. Not vague dreams, but real numbers, EMIs, SIPs, Target dates.
They were stunned, not because I was planning, but because I was planning with math. My dad, a government employee, never thought SIPs could be this powerful.
That day, my mom opened her first mutual fund SIP.
Now, goal planning has become a dinner-table conversation. My younger cousin even asked me to help build his own goal sheet!
The Mistakes I Won’t Repeat
Saving blindly without purpose
Ignoring inflation
Underestimating small expenses
Not adjusting goals with life changes
Keeping money in savings instead of investing
Comparing my journey with others
Every six months now, I review all my goals, update numbers, and adjust SIPs. It keeps me grounded and motivated.
Why I Wrote This
Not to flex. Not to preach. But because I wish someone had told me this when I was 18.
“Dreams become goals when you add a deadline. And goals become achievable when you break them into numbers.”
Don’t wait to earn ₹50,000/month to start planning. Start now. Even ₹1,000/month can take you far with the right mindset.
Some people wait until they earn ₹1 lakh/month to plan their goals. But I realized something earlier:
The future doesn’t wait for your income to increase. It waits for your vision to sharpen.
I’m not rich yet. I don’t drive a car. I don’t own a home. But every day, my SIPs whisper:
“We’re getting there, Mudra.”
And for now, that’s enough.
A Note to You, the Reader
Goal planning sounds boring until you realize it’s just dreaming, with numbers.
You want that international trip? Plug it into a calculator. Want your own car or apartment? Reverse-engineer it from today.
Don’t just work for money. Make money work for what you love.
And if you’re wondering where to start, here’s a…
Beginner’s Goal Planning Toolkit
App to start SIPs: Groww, Zerodha Coin, Paytm Money
Budgeting help: Walnut, Cube, or Excel sheets
Emergency Fund Options: Liquid funds, RBI Retail Direct (G-Secs), FD with sweep-in
Book That Truly Shifted My Money Mindset:
The Psychology of Money by Morgan Housel – A timeless read that helped me understand how behavior, not knowledge, drives financial success. It taught me that wealth is more about patience and discipline than market timing.
Remember: You don’t need lakhs to plan. You need clarity. You don’t need perfect knowledge. You need action. And you don’t need to wait. You can start now.
Even a chai break can change your financial life. Mine did.