Savings goals - individual and total

Hi. Is there a way to create a savings target/goal. Either a total one or one that can be split into categories for each savings goal?

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Hey @Jill :wave:

Not currently but this is absolutely something we can continue to consider. How do you envision seeing this in Emma? Would the goal show under the accounts tab?

Yes. Either put money into savings and then allocate to a particular item or put into a specific category that feeds into the total savings.
Each category with a target that tallies with total savings target.
Needs to be very flexible to use as different priorities change.

Thanks for getting back to me!
Jill

So you’re saying maybe a category called ‘Savings’ that works just like the budget but rather than setting a budget you’re setting a goal?

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Building on this I have a few use cases to support.
I would really like to be able to set a target on an account. Eg by dad/MM/yyyy the target balance is £#,####
I would use it on savings accounts to check I am on track to reach my savings goal.
I would use it on Loan accounts to check I’m tracking on target to reduce my mortgage by the amount I want.

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I’d love to see this in Emma too! Great motivation to keep on saving and to stick to my budget!

Where could you see this fitting in Emma? On the Accounts tab under each account, or perhaps you could see the goal by clicking into each individual account?

Yes I think in the Accounts tab under each account would be the best place for it, though either could work.

People could use it to track reducing overdrafts too.

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Yess :raised_hands:

We’ve got it on our most wanted features to-do list, so hopefully, we can work on adding something like this soon :crossed_fingers:

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I’d love to see this!

My savings are spread across multiple accounts, so it would be good tag and visualise savings agaisnt different goals.

For example, say if I save £500, I’d like to be able to allocate which goals that go towards:
£250 - Emergengy Fund
£200 - House Deposit
£50 - Summer Holiday

The news regarding this is we are adding the ability to set Savings targets on top of individual accounts. This feature will be available in Emma Pro.