Goal Types

A detailed guide to each goal type in Forbidden Finance: savings target, debt payoff, emergency fund, sinking fund, investment target, and FIRE target.

Overview

Forbidden Finance offers six goal types, each designed for a different financial objective. Choosing the right type ensures your goal displays the most relevant metrics and guidance. All goal types share the same core features -- target amount, target date, progress tracking, and projections -- but each adds context specific to its purpose.

Four types are available on all tiers. Investment target requires Pro or above. FIRE target requires Premium.

Savings Target

Available on: All tiers

A savings target is the most versatile goal type. Use it whenever you are saving toward a specific amount for a specific purpose.

Best for: Vacations, down payments, new cars, wedding funds, home renovations, large purchases.

How it works: Set your target amount and date. Link a budget savings category and/or a savings account. Track your progress as contributions accumulate toward the target.

Example: You want to save $15,000 for a down payment on a car by December. You create a savings target, link your "Car Fund" budget category, and set aside $1,250 per month. The goal tracks each contribution and shows your progress toward $15,000.

Debt Payoff

Available on: All tiers

A debt payoff goal tracks your progress in eliminating a specific debt. The target amount is the outstanding balance you want to pay off, and contributions represent payments above the minimum.

Best for: Credit card balances, student loans, medical bills, personal loans.

How it works: Enter the total balance you want to eliminate. As you make payments, the goal tracks how much of the debt you have knocked out. The progress bar fills as the remaining balance shrinks.

Example: You have a $6,000 credit card balance. You create a debt payoff goal with a $6,000 target and a 12-month deadline. Every extra payment beyond the minimum counts as progress. The goal shows you need to pay an additional $500/month to hit zero in 12 months.

Emergency Fund

Available on: All tiers

An emergency fund goal is a specialized savings target designed for building a financial safety net. The common recommendation is 3-6 months of essential expenses.

Best for: Building a financial buffer for unexpected expenses, job loss, or emergencies.

How it works: Set your target based on how many months of expenses you want to cover. Link a dedicated savings account for verification. The goal tracks your contributions and shows your progress toward full coverage.

Example: Your monthly essential expenses are $3,500. You want a 4-month buffer, so you set a target of $14,000. You already have $5,000 saved, so you enter that as your starting balance. The goal shows you are 36% of the way there and need $750/month to reach your target in 12 months.

Sinking Fund

Available on: All tiers

A sinking fund is for known future expenses that you save for gradually. Unlike a savings target (which is often aspirational), a sinking fund covers an expense you know is coming.

Best for: Annual insurance premiums, holiday gifts, property taxes, car registration, back-to-school supplies.

How it works: Enter the expense amount and when it is due. The goal calculates how much you need to set aside each month so the full amount is ready when the bill arrives.

Example: Your car insurance premium of $1,800 is due in September. You create a sinking fund in January with a $1,800 target and a September 1 deadline. Required monthly contribution: $225. When September arrives, the money is waiting.

Investment Target

Available on: Pro and above

An investment target tracks your progress toward a specific portfolio value. This goal type is designed to work with the assets and net worth features in Forbidden Finance.

Best for: Reaching a portfolio milestone, building a retirement nest egg, accumulating a specific invested amount.

How it works: Set your target portfolio value. Link your investment accounts so the goal pulls your current invested balance automatically. Progress updates as your investments grow through contributions and market returns.

Example: You want to reach $100,000 in invested assets. Your current portfolio is $42,000. The goal shows you are 42% of the way there. Based on your monthly contributions and historical return assumptions, the projected completion date is 3 years and 4 months out.

FIRE Target

Available on: Premium

A FIRE target tracks your progress toward financial independence -- the point where your invested assets can sustain your lifestyle indefinitely. This goal type integrates with the FIRE budget method for a complete FI tracking experience.

Best for: People pursuing Financial Independence / Retire Early who want a dedicated goal alongside their FIRE budget.

How it works: Your FI number (annual expenses divided by safe withdrawal rate) serves as the target amount. Progress is measured as your current invested assets divided by the FI number. The goal updates automatically as your expenses, savings rate, and portfolio value change.

Example: Your annual expenses are $48,000 and your safe withdrawal rate is 4%, giving you a FI number of $1,200,000. Your current invested assets are $350,000, putting you at 29% FI progress. The goal shows a projected completion date based on your current savings rate and expected returns.

Forbidden Finance does not provide financial advice. These tools are for informational purposes only.

Comparison Table

Type	Target Represents	Primary Tracking	Tier
Savings target	Amount to save	Contributions + account balance	All
Debt payoff	Balance to eliminate	Extra payments made	All
Emergency fund	Months of expenses	Contributions + account balance	All
Sinking fund	Future expense amount	Monthly set-asides	All
Investment target	Portfolio value	Account balance + market growth	Pro+
FIRE target	FI number	Portfolio value vs. FI number	Premium

Tips

If you are unsure which type to pick, start with a savings target. It is the most flexible and works for almost any objective.

Use sinking funds for recurring annual expenses. They prevent large bills from disrupting your monthly budget because the money is already set aside.

Investment target and FIRE target rely on linked investment accounts for accurate progress tracking. Without linked accounts, you need to update progress manually.