Goals

Goals help you plan and track your financial progress by setting specific funding targets for each category in your budget. Whether you're saving for a vacation, building an emergency fund, or setting aside money for recurring expenses, defining a goal ensures you're on track.

Setting a Goal

1. Navigate to the Budget Page

• Locate the category where you want to set a goal.
• Click on the "Goal" column for that category.

2. Set Goal Settings

A goal-setting menu will appear with the following options:

• Frequency: Choose how often you want to contribute to this goal:

  • Daily
  • Weekly
  • Monthly (default option)
  • Yearly

• Amount: Enter the dollar amount you want to contribute per selected frequency.

• Maximum Balance (Optional): Set a cap on the total amount available in this category. Once reached, contributions will stop until the amount available drops below the maximum.

3. Save Your Goal

• Click the "Save" button to apply your goal to the category.
• Your goal will apply to the current month you are viewing and all future months. Previous months and previously set goals will remain unaffected.

Goal Adjustments

Goal adjustments allow you to modify the goal amount for a specific month without changing the underlying goal itself. This helps in three key ways:

1. Tracking Performance

By using an adjustment instead of altering the goal, in reports you can see how often you exceed or fall short of your goals.

2. Forecasting Accuracy

The forecasting feature bases future projections on the original goal, ensuring that temporary changes in a given month don't distort long-term financial planning.

3. Flexibility in Budgeting

Life is unpredictable, and financial priorities can shift unexpectedly. Goal adjustments provide an easy way to adapt to new circumstances while keeping your long-term financial plan intact. Instead of rigid budgeting, adjustments let you stay in control and make informed decisions when the unexpected happens.

How to Make an Adjustment

• Locate the "Goal Adjustment" column in the budget.
• Enter the additional amount you want to contribute (positive adjustment) or reduce (negative adjustment) for that month.

Editing a Goal

• To edit a goal, open the goal settings for the category and adjust the values as needed.
• Goals cannot be removed, but you can set the amount to $0 if you no longer want to contribute.

How Goals Affect Your Budget

• Goals automatically apply to future months, ensuring consistent savings or spending targets.
• The budget page will display the goal amount, any adjustments, and progress toward meeting the goal.
• If your expenses exceed your goal, you can manually adjust it as needed.

By setting clear financial goals for your categories, you ensure that your spending aligns with your long-term financial plan while allowing room to adapt when needed. Happy budgeting!