Financial Health Check – Standard Version

Online financial health checkers usually are based on “personal finance ratios”. read more about them here. There are more useful to the finance professional than to the layman to assess the financial state of an individual. So I made this financial health checker which does not reply in these ratios.

In fact you could even call this calculator a mini financial report.

The idea behind the check is quite simple.

1. how much you earn,
2. how much you spend incl. emis
3. the difference bet. 1 and 2 is how much you can save.

Depending on when you retire, how long you are likely to live,
inflation rate and present expenses the amount you need to save
per month for your retirement is calculated.

The same quantity is also calculated for your other goals. Children’s education, marriage etc.

So you now know
A. How you can save
B How much you need to save.

The health indicator changes colour depending on the ratio


RED if A?B < 0.75 (i.e 75%)
Orange is A?B is between 0.75 and 0.9
Green above 0.9

Broad suggestions to change your rating to green are also provided.

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Your thoughts are vital to the health of this blog and are the driving force behind the analysis and calculators that you see here. We welcome criticism and differing opinions. I will do my very best to respond to all comments asap. Please do not include hyperlinks or email ids in the comment body. Such comments will be moderated and I reserve the right to delete the entire comment or remove the links before approving them.
Updated: August 30, 2016 — 6:56 pm

The Author

M. Pattabiraman

This article is authored by M. Pattabiraman. He is the co-author of two books: You can be rich too with goal based investing and Gamechanger. He is a patron and co-founder of "Fee-only India" an organisation to promote unbiased, commission-free investment advice “Pattu” as he is popularly known, publishes research, analysis and holistic money management advice at which serves more than one million readers a year. has more than a 100 free calculators on different aspects of insurance and investment analysis, including a robo advisory template for use by beginners.


  1. I think that “Initial Month investment required” calculation is not correct. I entered following data :-
    Years to goal 3
    Present cost 1,40,000
    inflation 7.0%
    Net Roi 8.00%
    Futire Cost 1,71,506
    Amt invested so far 0
    RoI of current invest. 8.00%
    Future value of curr. Inv. 0
    Annual inc. in monthly invest. % 10.00%

    It calculates “initial mon. invest. reqd.” = 3713, which seems incorrect. As per my calculation, it should be 3555. Though difference is not much in this case but it could be significant in other cases. Similar corrections needs to be done in other calculators too.

    1. There are different variants of the compounding formula. The version I use has been checked for consistency and I am comfortable with it. If you want me to you evaluate your comment better, you will need to provide the formula you use.

      1. Hi,

        Thanks for replying. Sorry, My earlier figure 3,555 was incorrect. What i got is we need to invest 3,839 initially.
        I do not have particular formula. I used to calculate it manually. Here it is:
        a) If you invest Rs. 3,713 per month @ 8% interest for 36 months, maturity amount is 1,51,389
        b) From second year onwards, you invest 371 per month (10% of 3713) @ 8% interest for 24 months, maturity amount is 9,680
        c) From third year onwards, you invest 408 per month (10% of (3713+371)) @ 8% interest for 12 months, maturity amount is 5,112

        Total amount at end of third year = 1,51,389 + 9,680 + 5,112 = 1,66,181 (5,325 short of our goal)

        Now, same analysis with 3,839.
        a) If you invest Rs. 3,839 per month @ 8% interest for 36 months, maturity amount is 1,56,527
        b) From second year onwards, you invest 384 per month (10% of 3839) @ 8% interest for 24 months, maturity amount is 10,019
        c) From third year onwards, you invest 422 per month (10% of (3839+384)) @ 8% interest for 12 months, maturity amount is 5,288

        Total amount at end of third year = 1,56,527 + 10,019 + 5,288 = 1,71,834

        1. thanks for sending the details. The amt to be save will vary depending on whether you choose monthly or yearly compounding, investments made at the start or end of the month. What you did makes sense but that does not mean the formula used is wrong. I will not worry too much about it. The idea is to invet something close to either value! Thanks.

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