Goals

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We all have a basic understanding of what they are. Some of us set goals, some of us don’t and most of us strive to achieve them.

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The key to a goal is setting something achievable, checking in on them or even breaking them into smaller goals.

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Goals are kind of like a long road trip, if you drive from Auckland to Wellington in one go without any breaks to rest and re-energise, it’s likely you’ll feel tired and a little sick of travelling by the end of it. 

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The same applies to goals, if you set goals without checking in and breaking them into smaller milestones then the exhaustion of achieving the goal will outweigh the benefit. 

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It all comes down to enjoying the process of working on your goals.

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Activity

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Step 1: Write down 3 financial goals you’d like to achieve over the next 12 months. This might be to grow your savings account to a certain level or build an emergency fund. 

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Step 2: Once you have your 3 goals locked in, break them down into 3 & 6 month goals to target where you want to be at each point in time. 

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Step 3: Now set a reminder every month to check in on these goals to see what your progress is.

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Tip: To make tracking your progress easy, open a separate bank account for each goal if you like. This separates it from any other bank balances you may have and makes it super clear.

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Now the juicy part.

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How does the goals feature work?

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We’ll cover 3 points on how the goals feature works, this includes adding a goal, maintaining & updating goals and how BudgetBuddie keeps track of your progress.

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Adding a goal

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To add a goal simply tap on the plus sign in the top right corner. This will then bring you to the new goal screen where you can add in your goal name, dollar value your contributions, your bank account associated to that goal and also a personalised colour you’d like to assign.

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Once you’re done entering in your details, tap the add goal button. Now you’ll see your goal both in the goals feature and on the dashboard.

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Maintaining a goal

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Maintaining a goal is simple. To update details simply tap the ‘See details’ button at the bottom of each goal you’d like to edit. This will bring you to the below screen where you can update all the main details of the goal to cater for your needs.

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How BudgetBuddie keeps track of your progress

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Lastly, let's talk about how the goals feature is kept updated automatically and helps track your progress without you worrying. When you connect your account to your banking details, your account balances associated to each goal will be updated automatically when funds have been added or withdrawn.

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Through these automatic updates on your balances, this calculates how close you are to achieving each goal without you having to do anything. Easy right?

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Well that’s not it, once you enter in your contributions you make per week, fortnight or month towards your goal, this predicts when you’re likely to achieve it to give you an idea if you’re on the right track. Making adjustments to your contributions will predict different dates when you're going to achieve it.

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Another step towards giving you more clarity on your money. 

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Time to set some goals.

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Final words

Thanks for reading, if you have any feedback or questions on what you've seen so far, feel free to get in touch using our contact form or alternatively give us a bell at hello@budgetbuddie.co.nz

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Disclaimer

This blog or any other information provided by BudgetBuddie is not financial advice. If you're needing financial advice please get in touch with a licensed financial advisor or professional.

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