Deleting Savings Goals

Josh_Currier
Josh_Currier Member ✭✭
edited January 25 in Savings Goals
Im a pretty comfortable with savings goals but i think i am missing something.  Every month the spending plan takes into account the savings goals that i am setting aside for.  My question is, how are people deleting their savings goals and not messing up previous months savings goals?  Example:  I set aside money for a car every month.  When i no longer need that goal i can delete it.  But that will delete and screw up the spending plans from the previous months making it look like i had extra money which in turn i didnt.

Best Answers

  • Flopbot
    Flopbot Superuser ✭✭✭✭✭
    Answer ✓
    @Josh_Currier

    I'm learning Savings Goals as I go so keep that in mind.  I do look forward to Coach Natalie's official feedback!  With that said, I set up a test in my account...Porsche 911...if only!



    My goal was $200 and it had $300 saved.  I used the top button to withdraw $200 and then contributed another $150 which left $250 available.  It's interesting that when I removed the money - to "buy the car" - and the Savings Goal was no longer above my goal amount, it stayed in the "Competed Goals" section and, note the 225% goal completed.



    @Coach Natalie, is there a way to mark the Savings Goal as "Not Completed" or "Reset Savings Goal" so you don't have to Delete It completely?  I too have lots of Savings Goals that are cyclical where I'll save up for things, buy the thing, and then start saving up for them again (ex. Cars, Computers, Appliances, etc.).

    And specifically to answer Josh_Curriers's point, is there a way to simply Archive old Savings Goals that you won't likely use again but you don't want them to disappear from past Spending Plans?
    Chris
    Quicken Desktop user since 2014.
    Brand new to Simplifi in 2021.
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Answer ✓
    Hello @Josh_Currier & @Flopbot,

    Thanks for posting your inquiries regarding Savings Goals to the Community!

    When testing this, it looks like deleting a Goal will delete prior month's contributions from the Spending Plan. This would make sense, as deleting a Goal removes that Goal's data from the entire program.

    It looks like once a Goal is 'Completed', you can "withdraw for another purpose", and this will remove the Goal from the Completed section, as it's no longer considered such. Adversely, when you "withdraw to spend for goal", the Goal will stay in the 'Completed' section, as it is still considered completed (you can determine this by the percentage displayed for the Goal). Again, this makes sense, as withdrawing to spend for a Goal doesn't actually remove funds from the Goal, it's just showing what you've spent from the Goal money and removes those contributions from your account balance(s) accordingly.

    With that being said, if you'd like to see the Goal's contributions removed from your account balance(s) once complete, I would definitely suggest not deleting the Goal, and instead, use the "withdraw to spend for goal" option, as this method will obtain all of the historical Goal data in the Spending Plan. 

    In regards to archiving a Goal or having the option to reset or restart them, I think that this would be a great idea to create an Idea post for so that other Users can vote on it and our Product Team can review it. 

    https://community.simplifimoney.com/discussion/998/creating-and-voting-for-ideas-in-the-community

    I hope this helps, but please let me know if anyone has any questions! :smiley:

    -Coach Natalie

Answers

  • Flopbot
    Flopbot Superuser ✭✭✭✭✭
    Interesting question that I'd love to know the answer to as well @Coach Natalie !  So far, I haven't finished any goals yet so I don't know.  @Josh_Currier, don't forget that - at least with your example of a car - you might want to not delete it and instead just start back over savings for your next, next car.
    Chris
    Quicken Desktop user since 2014.
    Brand new to Simplifi in 2021.
  • Josh_Currier
    Josh_Currier Member ✭✭
    I wish that was possible just to start over but unless you up the target amount you can’t restart over from zero the only way to restart over from zero is to delete it which at that point deletes it from all the old spending plans
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