Continuous Savings Goal

Chanse

Hi Everyone,

I'm finding that the goals don't really meet my needs for how I do a lot of saving. The goal is great for a one time target, like a wedding. Save X amount of money and then spend X amount of money. But for things like Emergency Funds, that's a continuous goal. Once I spend from that fund, I need to start saving again.

So, the idea would be to have target balances. If you drop below that balance, then you start saving a specified amount.

Example:
Emergency Fund
Target balance = $2000
Monthly Contribution Limit = $200

This would setup a spending target for $200/month until you hit the $2000 balance. Then lets say you need to spend from the emergency fund. You "withdraw from fund for goal" and spend $800 on some kind of repair. Now the fund should say "you need to add money to me again please" and put $200/month back on your spending plan until you are back at your target balance.

With the current goals I can track my withdraws, but simplifi assumes that I don't need to replenish that fund again. I don't want to have to create a new savings goal for another emergency fund after I use money from it, it is still the same goal. 

Flopbot

This would be a great addition to Simplifi’s Saving Goals.  The lack of an ability to replenish an already used goals doesn’t make a lot of sense.  I have lots of Emergency Funds that get perpetually added to our subtracted from.

Flopbot

Pushing this one back to the top since it’s a good one!

chanceryder25

I second this!

Suki

This is a missing feature that I think is really needed because some of my goals get met yearly or some other interval but then it should start over again.

JMoney

I think the savings goal feature needs a much bigger overhaul than just this, but allowing goals to automatically add themselves back to the spending plan when they drop below their target amount would be very nice and opens up many more ways to use Simplifi.

The other ask I'm hearing in this thread is recurring savings goals, which is separate but could also be very useful.

DannyB

https://community.simplifimoney.com/discussion/comment/43724#Comment_43724

Indeed, @JMoney Conversation about Savings Goals has been one of the active and ongoing conversations.

https://community.simplifimoney.com/discussion/10101/savings-goals-enhancements-survey-update-and-top-10-ideas

If you have some time, make sure to check all these out and add your voice.