Dream Come True Calculator

Dream Come True Calculator

It’s a universal truth: we want things that are hard to get. We don’t want to spend our holidays at our parents’ place; we want to sip drinks on a Bali beach instead. We never settle for an old Nokia phone (unless it’s the indestructible Nokia 3310) if the newest iPhone model is just around the corner. Our wishes and dreams tend to get more expensive as our earnings improve, always leaving something more to be desired.


While some of our dreams might be completely unrealistic (how many of us will actually fly to the Moon in the next five years?), most of them simply require us to save a certain amount of money. This dream come true calculator tells you how long exactly you have to save before you are able to buy that one particular item. This way, you will be able to answer this vital question:


How long do I have to save to afford my dream?

Step 1: Build your saving strategy


Before you will are able to assess how much time you need, you need to establish your strategy. You have to answer three questions:

  • How much will my dream cost me? – Or, in other words, what is the price tag on that item you’d like to have. The price might be anywhere between a few hundred (for example, if you’re saving for a new phone), a few thousand (a new TV or holidays, anyone?) or even reach a quarter of a million if you’re saving for your dream house.
  • How much do I already have? – How much did you save towards that goal, or what part of your current savings can be dedicated towards it? If you haven’t saved anything yet, don’t worry. You will begin today!
  • How much can I save every month? – This value will most likely be lower than your monthly income – after all, you need to allocate some of your earnings towards everyday expenses. Still, try to make this number as high as possible. The more you can save each month, the faster you will be able to afford your dream!


As you will be putting all of your savings into a savings account, check the interest rate your bank offers. This way, they money will not be “frozen” on your account but will generate even more money while you’re waiting.

Step 2: Find out how long you need to save


After you’ve determined all of the values above, our dream come true calculator will automatically find out how long you have to save to buy yourself that new smartphone, a shiny new car, or afford a two-week-long vacation for the whole family.


The time you need will be calculated according to the formula below:

T = log[(P + M/R) / (M/R + I)] / [log(1 + R)]



  • P is the price tag on your dream,
  • M is the amount of money you save monthly,
  • I is the initial balance of your account,
  • R is the monthly interest rate, and
  • T is the time, expressed in months.

Example: saving for a new car


Let’s make an example calculation together to understand how this dream come true calculator works. We can assume that you are saving for a new car of the price of $33,000.

  1. Check the initial balance of your savings account. Let’s say it’s $5,000.
  2. Analyze your expenses (you can use our budget calculator) to decide how much you can allocate monthly towards your car. Let’s say you don’t send much and can save $1,500 a month.
  3. Check your bank’s interest rates. We can assume you found a decent savings account with a yearly 5% interest, what translates into 5% / 12 = 0.42% monthly interest.
  4. Plug all of these values into the formula above:

T = log[(P + M/R) / (M/R + I)] / [log(1 + R)]

T = log[(33000 + 1500/0.0042) / (1500/0.0042 + 5000)] / [log(1 + 0.0042)]

T = log[(33000 + 357143) / (357143 + 5000)] / [log(1.0042)]

T = log[390143 / 362143] / log [1.0042]

T = log[1.077] / log [1.0042]

T = 0.032 / 0.0018 = 17.78 months

  1. You will be able to afford a new car after approximately 18 months, or 1.5 years.

    Schedule a FREE Consultation