Using the workbook
Savings & Goals
Setting savings goals with a target amount and date, tagging transfers with a goal code, and how progress and status are calculated.
On this page
The 🤑 Savings & Goals tab tracks what you are saving for — an emergency fund, a holiday, a new laptop. You set a target and a date; MonetrixOS works out how much you've saved and how much you need to put aside each month.
| Column | What to enter |
|---|---|
| Goal Name | A name you recognise, for example Emergency fund. |
| Goal Code | A short code for this goal, for example EF-ME. You'll put it in the description of the transfers that fund the goal. |
| Owner | The household member the goal belongs to. |
| Target Amount | How much you want to save. |
| Start date | When you start saving. |
| Target Date | When you want to reach the target. |
| Saved Amount (auto) | What you've saved so far. |
| Required Monthly Save (auto) | What's left to save, divided by the months left until the target date. |
| Progress (%) (auto) | Saved amount as a percentage of the target. |
| Status (auto) | See Statuses. |
Saving is recorded as a transfer on the Movements tab:
- Add a transfer from your everyday account into an account of type Savings.
- Put the goal's code in the Description, for example
Monthly saving EF-ME. - The goal's Saved Amount goes up by the transfer's amount.
A transfer out of a Savings account with the goal's code counts as a withdrawal and lowers the saved amount.
For a transfer to count:
- both accounts must exist on the Accounts tab, and exactly one of them must be of type Savings (a transfer between two savings accounts doesn't change the goal);
- it must be dated on or after the goal's Start date;
- the code can appear anywhere in the description, in upper or lower case.
- ✅ Completed — you've saved the target amount.
- ⏳ In Progress — the target date hasn't arrived yet.
- 🏃 Due Soon — the target date is today.
- 🚨 Overdue — the target date has passed and the goal isn't complete.
- Unknown — something is missing: check that the goal has a target amount above zero, a start date and a target date.
- In the sidebar, select More, then Goals. The Savings & Goals tab opens too.
- Select + Add goal.
- Fill in Goal name, Code (tags movements), Owner, the target amount, Start date and Target date.
- Select Save.
The Goals screen shows how much you've Saved against your Target total, and the progress of each goal.