Overview

Simplifi’s Savings Goals can help you easily plan for your future, whether you're planning a vacation, buying a home, or anything in between!

Savings Goals are easy: as soon as you tell Simplifi what you want to save for, and how much you want to save, we'll tell you what to contribute and how often. Don't have a goal date in mind? Not a problem! You can choose how much to contribute, and we'll tell you when you'll achieve your goal.

Create a Savings Goal

  1. Hover over the panel on the left-hand side and select Goals.

  2. Click the + New Goal tile or the blue + Goal button in the upper right.

  3. Select the type of Goal that you'd like to create.

  4. Enter a Goal Name and a Goal Amount. If you've already started saving, you can put what you have saved under Saved so far and select the Account that it's saved from.

  5. Click Continue.

  6. Set a Target goal date or select Don't Set if you don't have a date in mind, and then select a Start date. Note: You will only be given the option to select a Start date if you don't have anything 'Saved so far'.

  7. Click Continue.

  8. Confirm the Goal details and select whether you'd like your monthly contribution amount to be included in your Spending Plan.

  9. Click Create Goal when done.

Contributing to your Savings Goals

You can choose when and how often you want to contribute to your Savings Goals. When you contribute funds to a Savings Goal, Simplifi will separate the amount you've contributed from your available balance. Please note: At this time, we do not support contributions from Credit, Loan, or Investment accounts. You can only contribute funds from Checking, Savings, or Other Banking account types.

As an example, if your bank balance is $2,607.63 and you've told Simplifi that you've contributed $2,399.00 from your account to your Savings Goal(s), Simplifi will add a separate Available Balance, which is the amount remaining after your Goal contributions:

Note: Simplifi will never add or take money from your actual financial accounts. Your Goal is meant to keep you accountable and moving forward!

Add Contributions

  1. Hover over the panel on the left-hand side and select Goals.

  2. Locate the Goal that you'd like to contribute to and select the three dots to the upper right of it.

  3. Select Contribute to goal.

  4. Select the Account that you want your contribution to come from and enter the Amount that you'd like to contribute.

  5. Click Contribute when done.

Withdrawing From a Savings Goal

There are a couple of different ways that you can withdraw from a Savings Goal. First, you can Spend from a Goal, which allows you to use the money that you've already saved towards your Goal to spend for all or part of your Goal. This option doesn't impact your saved so far or left to save amounts but does show how much of your Goal money has been spent towards the Goal.

You can also elect to Withdraw for another purpose, which allows you to return all or part of your contribution(s) back to your spending funds. This option is great to use for changes in circumstances, where you may need some of your Goal money back. When using this option, you'll see that the funds are removed from the saved so far amount and added back to the left to save amount of the Goal.

Withdraw from a Goal

  1. Hover over the panel on the left-hand side and select Goals.

  2. Locate the Goal that you'd like to withdraw from and select the three dots to the upper right of it.

  3. Select Withdraw from goal.

  4. Select Withdraw to spend for goal -or- Withdraw for another purpose, whichever applies.

  5. Select the Account that you want to withdraw from and enter the Amount that you'd like to withdraw.

  6. Click Withdraw when done.


How Goal Contributions and Withdraws are Handled in the Spending Plan

When electing to include your Savings Goals contributions in the Spending Plan, the 'monthly contribution' amount will automatically be used, however, if you end up contributing more in a given month, the extra amount will also be included in the Spending Plan.

When it comes to withdrawing from a Savings Goal, withdrawing to spend for the Goal will not impact the Spending Plan. However, withdrawing for another purpose will remove the funds that have been withdrawn from the Spending Plan up to the standard 'monthly contribution' amount.

Please note that this only applies to Savings Goals that are being included in the Spending Plan, as ignored Goals will show as grayed out in the Spending Plan, and their contributions and withdraws do not impact the Spending Plan in any way.


Frequently Asked Questions

Learn the answers to frequently asked questions for this topic!

Can I link Savings Goal contributions and withdraws to a transaction?

At this time, Savings Goal contributions and withdraws are unable to be linked to a transaction. We apologize for any inconvenience!


To learn more about using Savings Goals on the Simplifi Mobile App, please click here!

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