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Goals Overview

Goals Overview

  • Goals can help users plan ahead and visualize long-term financial objectives, such as saving for a home or vacation. This tool provides a timeline of prioritized goals, and projects how long it will take to complete each goal based on a user’s saving plans.
 
Set Monthly Goal Contribution
  • Your "Monthly Goal Contribution" is the amount of money you plan to allocate towards your top goals each month. You can think of it as your "Goals Budget".
  • It may be helpful to start with setting up your Budgets, as Goals can automatically calculate the difference between your monthly Projected Income and Spending Budget as the amount "Leftover", available to put towards a Goals Budget. Alternatively, you can manually enter a Goals Budget amount that makes sense to you.
  • Enter your Goals Budget amount and click "Save" to continue.
  • Your Goals Budget can be used to help you save for future expenses or to pay off existing debt. Use the slider bar or manually enter an amount to specify what percentage of your monthly Goals Budget you wish to be applied to Savings vs. Debt Payoff. Click "Apply" to continue.
 
Add a Goal
  • You can create three types of Goals: Savings, Debt Payoff and Retirement. We encourage all users to start by setting up a savings account for an emergency fund; saving $1,000 in an emergency-only account is a good start, but working towards 3-6 months of living expenses is a good longer-term goal.
  • To create a Savings goal:
    1. Select the Savings Goal Type
    2. Select a specific goal to save for
    3. Customize the Goal Name
    4. Specify the Amount to Save
    5. Select an Account
    6. Save
  • Each goal must be tied to its own account, which will be used to measure your progress towards each goal. You may choose to open new savings accounts in order to set additional goals.
  • To create a Debt Payoff goal:
    1. Select the Debt Payoff Goal Type
    2. Select Debts to Track
    3. Save
  • Note that while you can add any debt to the Goals tool, Goals will calculate your payoff based only on the amount you set to contribute in Goals, not accounting for any amount you have budgeted towards that debt in the Budgets tool. Therefore, the Goals tool is best used for unbudgeted debts (usually credit cards), unless you plan to manually adjust your Monthly Goal Contribution to account for budgeted expenses.
  • To create a Retirement goal:
    1. Select the Retirement Goal Type
    2. Specify the Amount to Save
    3. Select an Account
    4. Save
 
Manage Goals
  • The Manage Goals view gives users a quick overview of all current goals and your progress towards each. Goals are separated by Type: Debt Payoff, Savings and Retirement. Additionally, the user is able to change the priority of current goals, by dragging a goal to the desired position in the list.
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