How does making a withdrawal affect this months contributions for the month?

DannyB

I made a contribution to one of my SGs but made it from the wrong account. 😏

So… I did a "Withdraw for another purpose" to remove the funds from the wrong account and then made a contribution from the correct account.

But Spending Plan > Income after bills & savings > Savings Goals > Vacation 2023 shows as "Not contributed"

Thus my question: How does making a withdrawal affect this months contributions for the month?

Coach Natalie

Hello @DannyB,

Thanks for posting your inquiry to the Community!

Here's what our Support Article on Savings Goals says:

"How Goal Contributions and Withdraws are Handled in the Spending Plan

When electing to include your Savings Goals contributions in the Spending Plan, the 'monthly contribution' amount will automatically be used, however, if you end up contributing more in a given month, the extra amount will also be included in the Spending Plan.

When it comes to withdrawing from a Savings Goal, withdrawing to spend for the Goal will not impact the Spending Plan. However, withdrawing for another purpose will remove the funds that have been withdrawn from the Spending Plan up to the standard 'monthly contribution' amount.

Please note that this only applies to Savings Goals that are being included in the Spending Plan, as ignored Goals will show as grayed out in the Spending Plan, and their contributions and withdraws do not impact the Spending Plan in any way."

So, it sounds like withdrawing from the Goal should have brought it back to "not contributed", and then contributing to it from the correct account should have shown that it was contributed to again. Have you tried signing out and back in to see if there was perhaps just a delay in the Spending Plan updating?

Please let us know so we can best assist!

-Coach Natalie

Coach Natalie

Hello @DannyB,

Thanks for posting back!

If you believe there may be something erroneous with how this month's contribution for that Goal is being calculated in the Spending Plan, and you know how much is already saved for the Goal minus this month's contribution, you might consider just deleting and recreating it with a "saved so far" amount. Once done, you can contribute this month's amount and make sure it's showing properly in the Spending Plan. 🙂

-Coach Natalie

DannyB

Thanks @Coach Natalie I made the contribution through the Spending Plan Savings Goal bucket. I made the withdraw and re-contributed using the 3 dot menu in the actual Goals page for the particular SG. When I went back to the Spending Plan to check and see if the "Not contributed" had changed to "Contributed" and it still showed as "Not contributed" The problem is that I don't have any "free" money in the real world savings account to now contribute. What I ended up doing is making this months contribution form another real world account.

DannyB

@Coach Natalie , That was a great suggestion! I did what you suggested and all is well now.