With HelloWallet, you can create Spending Goals for large purchases that you are saving up for. We'll show you how these spending goals impact your savings levels. HelloWallet will also provide guidance on when you can afford a goal and what changes you can make to remain financially secure while pursuing your goal. You may choose to contribute more to reach the goal, delay your timeline, or spend less.
Here’s how to set a Spending Goal:
- Go to the Guidance page, where you will see Savings & Debt Guidance.
- Click the “+ Add a Goal” button, and select “Spending Goal”.
- Enter a name for your goal, choose your goal amount, and set your goal date. Be sure to click “Save” once you are finished.
Once your Spending Goal has been saved, you will see a green plot point appear on your projected Savings & Debt graph that reflects your goal date and amount. You will see that, at the point of your goal, your savings level drops according to the amount your goal will cost.
Be sure to set your emergency savings levels, so HelloWallet can show you how your spending on this goal will affect your savings for minor emergencies, major emergencies, and job loss.
Spending goals can be deleted by selecting the goal, and clicking on the trash can icon in the top right corner of the window.