1. Goals are linked to your budget. To access the goal menu and functions click on the Your Goals and Budget Tab at the top of the screen
2. Click on “+ New Goal” and a new screen will appear
3. There are two types of goal options.
- Save Money being accumulation goals OR
- Reduce Debt being reduction of balance goals
Think about the type of goal you are creating. Are you working towards a future balance to increase (such as a saving balance) or are you contributing to reduce a balance (such as a loan)
4. If you select “save money” then you will be prompted to complete what you are saving for. Or if you are reducing you will automatically be prompted to complete the description field
5. Complete the rest of the fields once you have selected the goal type and entered the goal description.
Note: You can start a goal at future date by selecting the starting date in the future
At all time your finishing date must be post the starting date
6. If you goal is explicitly linked to a particular account like a savings account, home loan or credit card then select the Link Financial Account Option.
This will provide you with a list of your financial accounts and the goal balance will be tracked against the balance retrieved on a monthly basis.
Note: You are requesting to link an account to your goal.
By linking an account to this goal you will not be able to also use the manual contribution function, however any activity within the account will be calculated against the goal.
Choose the account that your goal is associated to.
Note: You can select multiple accounts just repeat the process of linking financial account. If two or more accounts the system will automatically add the two balances together when calculating and reporting against the goal.
7. Once you have verified all the details are correct select create goal.
You will be prompted to Save thereafter again. This validates that your goal will now be created.
8. Once you goal is created your goal will appear in the Goals and Budget Screen
If starting date is immediate as; Active Goal
If starting date is in future as; Scheduled Goal
When goal is completed: Completed Goals
9. Active Goals will appear first as the attached with a summary of the detail
Note: As goals are explicitly linked to budget (in other words you cannot work towards a financial goal without physical budget/Cashflow adjustments any shortfalls in goal values or if a goal cannot be reached because your budget or Cashflow does not warrant it will be displayed as a warning
You will also be presented with an high level overview to the right of how your budget and goals are calculated and your position
If you are in “Monthly Surplus” this means you have adequate Cashflow against your budget to meet your goal(s).
If you are in Monthly Deficit” like in the picture above this means you cannot reach your goal based on the current information.
Your options from here are to change edit your budget to reflect the changes you are going to make to bring your position back into surplus OR
Adjust the goal details such as extending the end date, reducing the goal balance etc to reduce the amount monthly required to meet the goal.
See editing goal FAQ or editing budget.