Holidays, a new laptop, an emergency fund: a savings goal tells you how much to put aside each month to get there, and whether you are on track. Goals are free.
Create a goal
- On the dashboard, under Savings goals, tap + (or the card "Saving for something?").
- Give it a Name and a Target.
- Optionally a date in By: with a date, Xpenses works out how much to set aside each month.
- Choose where the money is kept (below), then Accept.
Where the money is kept
- In an account (choose it in Money kept in): progress is that account's balance, and Xpenses checks the account's forecast at the goal's date. If it falls short, it tells you how much more a month you need. Best with a savings account of its own (accounts; more than one account is Pro).
- No specific account: type what you have Saved so far and update it whenever you add to it. Xpenses spreads the rest over the months left.
Reading the card
The bar shows what you have against the target. Below it, either how much to save a month to get there by your date, or that you are on track. The current month is not counted as a month left: its money is already planned.
Make it automatic
Add a monthly transfer to the savings account, or a monthly expense "Savings" if you keep everything in one account. Then the month end already counts what you put aside, and ticking the transfer each month keeps the goal moving.
For a tax bill, there is a dedicated planner: set money aside for taxes.