Is there a way to set my savings goal to my account balance?

AW90
AW90 Member
edited June 9 in Savings Goals
Is there a way to set my savings goal to my account balance, do that I don't have to manually contribute and withdraw from the savings goal? I already have a savings account so it's unnecessary for me to do the contributions and withdrawals manually.
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  • DannyB
    DannyB Superuser ✭✭✭✭
    edited May 10
    @AW90, Savings Goals are NOT actual real world accounts.  They are virtual accounts in Simplifi to help you sort out specific things you are saving for.  Where the actual money for a given Savings Goal lives is irrelevant to Simplifi.  However, you have to designate which real world account holds the funds for your Savings Goals.  If the money you are saving is not for a specific expense or expenses, I wouldn't think that setting up a Savings Goal is necessary and would be simply duplicating the balance you already have in your savings account.

    However, if the money in your savings account is for various purposes, then setting up a Savings Goal for each of those purposes can give you a way to track your progress toward each expense you are saving for.

    Once you set up a Savings Goal, as far as I know, you have to manually add or withdrawal funds to/form that goal whenever you are ready to contribute to or spend from a particular goal.

    I use Saving Goals for a couple of purposes.  One is to give me a picture of how much is saved for specific annual, semi-annual, quarterly and irregular expenses.  The second purpose is to save for big purchases or expenses at sometime in the future, i.e. auto replacement, a new, bigger, more advanced TV, deluxe vacation in some paradise somewhere :smiley:

    [edited user tag]
    Danny 
    Simplifi user since 01/22
     Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer
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