Pot Goals: Set a target date

Hi Community

I’d like to highlight an idea I have only seen mentioned briefly on another thread but seems lost in amongst the other comments.

It would be nice if we could set a target date on savings pots. For example, when you are saving up for spending money on a holiday. You would then set the day of the holiday as the target date and it can track the number of days till you go on holiday and show if you will reach your savings target or not

You could then show this progress to the target date with the same moving vertical line used on the budget progress bars. But with the savings pots the vertical line would progress from left to right as the date draws closer. That way you can see if your saving is on track to meet your target.

The target date field can be optional, if it is not set on a pot then nothing needs to be different. If the date goes over the target date then, nothing needs to happen.

I think that would be enough for an MVP. There are plenty of other things to extend this idea like showing the average amount you would need to save per day/week/month, show the number of days left to go until the target date. Or notifications when it looks like you might be falling behind, or auto transfer of money from current account to savings pot each day/week/month to hit the target etc…

Keep up the good work! :+1:

Richard

16 Likes

Yes, you’ve covered it pretty well here in terms of features I would like to see as well:

Absolute minimum:

  • Set a target date and show average daily/weekly/monthly saving required to reach the goal

Nice to haves:

  • Allow the goal to repeat annually/monthly/weekly (i.e. if I am putting money aside for my annual car tax…I want it to ‘reset’ somehow ready for the next year
  • Also allow the goal to increase monthly/annually - i.e. “I want to save £200 a month but some months I might save more or less”

I am using pots regularly - creating different pots for different expenditures and to help me put aside some money for savings / paying off debts but this would make them 100% more useful.

2 Likes

I want this!

I’d like a feature where you can enter a target date to save your goal amount by, when setting up the savings pot.
Then it will calculate how much you need to put in a month to reach it, a target deposit date, and a variance of how much you have deposited, how much you are behind or ahead by etc.

This would be a good feature and has been suggested here too:

I’ve merged these (so it looks somewhat clunky) since it’s better to keep common ideas in a common thread.

1 Like

Like this idea, also allow us to lock pots until an amount is reached would be nice

1 Like

I like this idea, it would be great for holidays, events, all sorts.

1 Like

YNAB has a great system for setting goals on categories. Fund by amount per month, fund amount overall and fund amount by date

1 Like

Would love to see this, more importantly some kind of suggested calculator when setting up the scheduled payment. My biggest effort in setting up a pot is always trying to figure out how much i need to put in per week to hit the goal!

… and then automate that payment on a set day from my main balance :exploding_head:

The circle is complete…

I’m new to monzo, my fiancé and myself have a savings pot for our wedding in our joint acc. It shows the percentage of how much we have saved so far. But it would be helpful If we could set a completion date and for it to show whether we are on track to save the total amount in time. Any ideas?

What a great idea! Seems so simple and obvious that I was sure it had been suggested before, but I can’t find it if it has. :blush:

It definitely has.

1 Like

I’m just checking the community to see if this had been suggested already. Nice idea, I’d go one step further and allow an image to be uploaded. would be great motivation to see a pic of what you’re saving for and them some sort of indicator showing the % of funds to target.

Think you can already do both of those.

You can already do both of these things, When you create a Pot, you name it, add an image and can set a goal, as well as a lock date which could twin as a target date

2 Likes

Like this you mean?

2 Likes

haha… thanks. totally didn’t see that feature. I’ve just updated my pots :+1:

1 Like

I think this would be great and a very useful feature - have we seen any update on it?

1 Like