Ability to automatically contribute to Savings Goals [edited] (5 Merged Votes)

jvipatapat
jvipatapat Member ✭✭
edited September 21 in Feature Requests

Why is that I have savings goals that reduce my spending plan total, but it won't automatically "contribute" for me each month? So then I have to go to the savings plan tab, remember how much was the monthly amount that I earmarked for the plan, and then contribute to it manually. This should all be a pretty streamlined process but it becomes more evident to me everyday that savings goals is such an afterthought of a feature.

Either savings goals should be automatically contributed from the spending plan, or I should be able to click a button next to each savings goal within the savings plan to contribute automatically.

35 votes

Active · Last Updated

Comments

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin

    Hello @jvipatapat,

    Thanks for posting this! We really appreciate the feedback regarding these features and how we can better integrate and streamline this process for our Users.

    Please be sure to add your vote! :smile:

    -Coach Natalie

  • jbegley27
    jbegley27 Member
    edited September 2020

    Can you add auto save to saving goals so you don't have to. Manually do. It thanks

  • It would be helpful if simplifi. Auto saved money to our saving goals i instead of doing it manualy

  • Please vote this in

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin

    Hello @jbegley27,

    Thanks for taking the time to post your request here! Don't forget to add your vote! :smile:

    -Coach Natalie

  • +1, but I'd like to take it even a step further. We transfer a % of our paychecks to savings every pay day. It would be fantastic to be able to attach that transaction and have it accounted for in the contribution goals. Particularly for those of us that have paycheck amounts that change depending on hours worked, over-time, etc.

  • davecave
    davecave Member ✭✭
    This is exactly what I expected from the Savings Goal feature. (automatic contribution). Hope it gets updated soon.
  • Actually this could be pretty easy to do with an addition to the Recurring entry. In the Recurring entry add a drop down box that lists your goals so you can chose the goal you wish to contribute to.

  • davecave
    davecave Member ✭✭
    edited March 8
    Thank you for all of the features you've added over the past year, especially for goals. There is one lingering issue that holds me back from going 100% in on Simplifi though. Currently I have to manually open Simplifi every month and contribute to all of my goals.

    Let's say I have several goals, including vacation, christmas spending, etc. I also use goals for large annual bills like car insurance or Amazon Prime. Car insurance is significant because it's a lot of money, so I need to account for it in the monthly budget. It needs to be reflected in my spending plan, so that when the time comes, I'll have the money to pay for the car insurance.

    For some reason, you can't automatically contribute to the goal every month, which is surprising to me. The customer service rep I talked to even thought that contribution was automatic. I might miss a couple months, get off track, and end up spending money I shouldn't be spending. I realize there are notifications, but even so, it would be much for efficient and convenient if it was just done for me. Is there something I'm missing?

    Also, I realize I'm using goals for a bill... but I'd still like automatic contribution for things other than bills, like christmas spending.

    And yes, I realize there is no actual money being transferred between accounts.

    Thanks for the consideration. I really need this!
  • Automatically contribute a fixed amount of money to a savings goal or spending plan whenever simplifi detects a paycheck direct deposit. 
  • Flopbot
    Flopbot Member ✭✭✭✭
    Agree with @jvipatapat and the others.  This functionality is critical!

    It's a proven method of building wealth over time; to consistently save little bits each and every month, repeatedly, indefinitely.  In searching for new budgeting software, the lack of a way to automatically / repeatedly contribute to Savings Goals is one of my critical requirements and is causing me to question if Simplifi will really work for us.

    While I'm new to Simplifi (still in my 30-day trial), I've been using Quicken Desktop since 2014 and it does have this functionality.  For a real world example, lets say I have one (1) $200 deposit going directly into my Savings Account each and every paycheck - every two weeks.  Then, in Quicken Desktop, I set up six (6) automatic, recurring Savings Goal contributions:
    • $100 into a "Car Replacement" Savings Goal
    • $50 into a "Home Maintenance" Savings Goal
    • $20 into a "Appliance Replacement" Savings Goal
    • $10 into a "Education" Savings Goal
    • $10 into a "Computer Replacement" Savings Goal
    • $10 into a "Whatever" Savings Goal
    I - nor do other users - have the time to do this manually.  For me, this would be twelve (12) manual transactions every two weeks!  If I added more Savings Goals, it would get even more untenable!

    Simplifi, please add Savings Goals to this list when adding transactions to the "Upcoming" tab.

    https://drive.google.com/uc?id=1D8YfFPnGwOK6GsmDdKYShnYPLz0cNglR

    Is there any update as to the status of this request?  Is it being considered?  Worked on?

    Thank you.
    Chris
    Quicken Desktop user since 2014.
    Brand new to Simplifi in 2021.
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    edited June 28
    Hello @Flopbot,

    Thank you for taking the time to share your feedback on the ability to automatically contribute to Savings Goals!

    Unfortunately, this one is not on the roadmap yet, as far as I'm aware. I have gone ahead and passed this along to my Team, however, as I do see the significant number of votes and feedback that we've received for this feature request.

    We do, however, have another Idea post for the ability to create Recurring Transactions for your Savings Goals, and to make them a part of your Spending Plan, that's 'In Progress': https://community.simplifimoney.com/discussion/382/recurring-transaction-for-savings-goals-and-make-it-a-part-of-my-spending-plan-edited/p1?new=1

    It's very possible that when this feature is implemented, it may allow for automatic contributions; fingers crossed! Please be sure to stay tuned for future updates! :smiley:

    -Coach Natalie
  • Flopbot
    Flopbot Member ✭✭✭✭
    Thanks Coach Natalie,

    There appears to be something wrong with the vote feature on that page...the up/down arrows are missing on my screen...I am logged in.

    https://community.simplifimoney.com/discussion/382/recurring-transaction-for-savings-goals-and-make-it-a-part-of-my-spending-plan-edited/p1?new=1
    Chris
    Quicken Desktop user since 2014.
    Brand new to Simplifi in 2021.
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Hello @Flopbot,

    It looks like the referenced Idea post has been closed for voting, as it is marked as 'In Progress'. Once we start working on implementing a Feature Request and the Idea Status gets updated accordingly, the post becomes closed to additional votes. 

    You can, however, follow the post for any updates, as well as bookmark it so that you're automatically notified of any changes. 

    I hope this helps! :blush:

    -Coach Natalie
  • Really a miss that you have to MANUALLY put money toward a savings goal (virtual savings account).  Would be great to be able to put $5/week into a savings goal for my son and daughter for their allowance.  Not useful given I have to go in manually to do this.