Everyday dream come true problems come down to one relationship between initial savings, price tag on your dream, interest rate (per year), monthly savings, round and initial. This calculator turns those numbers into time you need, with the working shown so you can check the result rather than simply trust it.
What Is the Dream Come True Calculator?
The dream come true calculator takes initial savings, price tag on your dream, interest rate (per year), monthly savings, round and initial and turns them into time you need.
It is the kind of calculation you would otherwise do on the back of an envelope: mechanical, repeatable and easy to get subtly wrong without noticing.
How the Dream Come True Figure Is Built
Each result is calculated from the ones before it, so the working is fully visible. That matters when the answer is going to be quoted to somebody else and you need to be able to explain where it came from.
The figures are exactly as good as the assumptions underneath them. Check the rates, the periods and the tax treatment before you rely on the result.
Reading the Result Sensibly
A small change in an input can move the result by much more than you would expect, particularly where the calculation divides by one of the figures you supplied. That is worth understanding before you rely on a figure.
For anything that will be committed to, write the inputs down beside the result. A number you can reproduce is worth far more than one you cannot explain.
A Worked Example
Working through an example, with initial savings set to 10, price tag on your dream set to 5, interest rate (per year) set to 2, the calculator returns time you need of -0.0792. Substitute your own figures and the same steps produce the same kind of answer.
Frequently Asked Questions
What do I need to work out time you need?
Enter initial savings, price tag on your dream, interest rate (per year), monthly savings, round and initial. The calculator then works through the relationship and reports time you need.
What does the dream come true actually calculate?
It takes initial savings, price tag on your dream, interest rate (per year), monthly savings, round and initial and converts them into time you need using the standard relationship for this problem. Each step is applied in turn, so every output is traceable back to the numbers you typed in.
How should I enter initial savings?
Use the value you actually have, in the unit shown next to the field. Enter every value in the same unit system. The calculator assumes the figures you supply are consistent, so it cannot correct a mistake that happens before the calculation starts.
Does anything you type get stored?
No. The whole calculation runs inside your browser, and nothing you enter is uploaded, logged or sent anywhere.
Why does a small change in one value move the answer so much?
That happens when an output depends on a ratio, because dividing by a small number magnifies any change in it. Check the units first, then check whether the value you entered is in the range the relationship was designed for.