So you’ve been tracking your spending religiously, know where your money is going, have a budget, stick to it as much as you can and have gained some control over your finances with Wallet. In short, your finances are behaving the way you want them to.
But wait, what exactly do you want your money to do?
Why are you bringing order to your finances? Why are you making sure that you stay within budget each month? Why are you saving this money?
Introducing Goals on Wallet
Goals are a powerful addition to Wallet, bringing a sense of purpose and making your journey to a richer life smoother and faster.
Why set Goals on Wallet?
A goal brings with it a sense of purpose. It is that beautiful bow that sits neat and tight on top of a gift box. It gives meaning to all the number-crunching, tracking and analysis that you do on Wallet. It sets you up to achieve what is really important to you in life. And, it makes it easier than ever to get there, too!
So, what do you want your money to do? Where do you see yourself in the next few years? What do you want to achieve? What do you see yourself owning or enjoying?
Maybe you’re happy with just tracking and budgeting, and don’t want to set goals. That’s completely okay! But…
Did you know that the success rate of people who set actionable goals is 10 times higher than those who just desire change.
So let’s get started!
How to set Goals on Wallet
It’s easier than ever to set Goals on Wallet. Learn how to add your very first goal to Wallet now:
What makes a goal actionable?
Say, you want to buy a car. But ‘I’m saving for a car’ is not the best possible way to set your goal. Instead, “I want to save $12,000 for a car by the end of March next year.”
On adding this to goal to Wallet, it shows you exactly how much money you need to save in a month to achieve your goal.
However, we know that it may not be always possible to set an end date for a goal. In such cases, once you enter your savings every period, Wallet forecasts a date by which you can expect to achieve this goal.
Or, you may not know how much you want to save for a particular goal. In such a case, too, Wallet comes to your rescue by predicting the expected balance you’ll have by the end of your desired period, based on your savings trend.
So no matter what kind of a goal-setter you may be, we’ve got your covered on Wallet!
But, wait… That’s not it!
It’s not just the matter of setting goals. Studies say that nearly half of us make New Year’s resolutions, but only 8% of us end up achieving them by the year’s end. So it’s not just about making up your mind to do something. It’s also about how you get there.
To achieve your goals, you need to have a simple system that works for you.
Goals on Wallet will not just let you set goals, but also allow you to see them through and achieve them!
We swear by flexibility.
At BudgetBakers, we believe that a system that is not flexible is just unrealistic.
So you can edit your goal at any time! And, if you feel the need to give yourself a break and stop saving for a particular goal, you can pause the goal.
Budgets + Goals = A Winning Financial Plan
Combined with the Budgets feature, Wallet makes it easier than ever to stay on track and achieve your goals effortlessly!
The next time you save something on any of your Budgets, Wallet will ask you to allocate the saved amount to the goal(s) of your choice. And, voila! Saving for your goals become a seamless process.
Say, you budgeted $300 for eating out this month, but ended up spending only $200. Wallet will let you know that you have saved $100 and ask you to put it away towards your goal(s).
To actually put away the money you saved, remember to move it to your savings account (or any account you use to save for your goals in real life), to avoid dipping into it and using it to spend.
In this way, the money you saved actually goes somewhere and does something.
We’d love to hear from you!
Goals have been one of most requested features by you, our users. We hope that you will all try it out and send your ideas, suggestions and feedback about this new feature here.
Finally, Ready to set your first goal?
Great! Just update to the latest available version of Wallet. Or, click the button below to go to Wallet now!
And, we’re always here to help. If you face any difficulties, feel free to head over to our Help Center or reach out to our Support team for assistance.