Saving goals in finance

A saving goal is money you deliberately set aside for a future purpose. Instead of one undivided savings balance, you split it into named goals — a holiday, a new appliance, an emergency fund — each with a target amount and a target date.

Why save with goals?  

Saving toward named goals is a common personal finance technique (sometimes called sinking funds for expected future expenses).

• It makes progress visible: you see exactly how far along each goal is.
• It prevents accidental spending: money reserved for a goal is not counted as freely available.
• It helps planning: dividing the remaining amount by the months left tells you what to save each month.

Saving goals in Pledger.io  

In Pledger.io a saving goal lives on a savings account. Reserving money for a goal earmarks part of the account balance — it does not create a transaction. To actually grow the savings account you transfer money to it like any other account.

See How to use saving goals for the practical steps.