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How do Savings Goals work? How do I set them up?

Creating a Savings Goal for yourself allows you to set aside money for a specific purpose and track progress towards reaching that goal.

You can move money into a Savings Goal from any of your current spending greenlights, or from your General Savings without having to send a request to your parent. However, if you want to move money out of a Savings Goal into a spending greenlight, you will need to send a request to your parent.

If your parent has set a Parent-Paid Interest rate for your savings, it will also be applied to any money in a Savings Goal, and any interest earned will be deposited directly to that savings goal. 

Adding a savings goal:

  1.     Navigate to your “Save” tab.
  2.     Tap “Add a Savings Goal.”
  3.     Enter a title or description of what you will be saving for.
  4.     Enter a goal amount.
  5.     Tap “Add Savings Goal” to complete the set-up process.

Editing a savings goal:

If you want to change the name or amount of your savings goal, or if you want to delete a savings goal:

  1.     Navigate to your “Save” tab.
  2.     Tap on the goal you want to edit.
  3.     Tap on the vertical tri-dot icon in the upper right-hand corner.
  4.     To edit, tap “Edit goal” – from there, you can change the name of the goal and/or edit the goal amount.
  5.     To delete, tap “Delete goal” – please note: savings goals must have a $0 balance before they can be deleted.

 

 

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