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.

How do I add money to my savings?

To add money to your general savings:

  1.     Navigate to your “Save” tab
  2.     Tap “General Savings”
  3.     Choose “Move Money In”
  4.     Choose where you’d like to move money from, and the amount you’d like to move into savings
  5.     Confirm your choices and tap “Move Money In” to complete the process
  6.     If you want to request money from your parent, choose the option to “Request Money from Parent” from the list of locations on the “Move Money In” drop-down menu

To add money to one of your savings goals:

  1.     Navigate to your “Save” tab
  2.     Tap on the savings goal you’d like to add money to
  3.     Choose “Move Money In”
  4.     Choose where you’d like to move money from, and the amount you’d like to move into savings
  5.     Confirm your choices and tap “Move Money In” to complete the process
  6.     If you want to request money from your parent, choose the option to “Request Money from Parent” from the list of locations on the “Move Money In” drop-down menu

 

 

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