When will I reach my savings goal?

[Acoolduck (Keian Dunnill)]

So not quite the same as those apps but similar.

[Acoolduck (Keian Dunnill)]

I accept that those apps have to set a target payment to calculate the estimated end date but monzo could calculate this based off previous deposits is what I’m saying.

[Ordog]

Just to be clear I’m not saying your idea is bad. I’m just trying to understand how it would work so we can iron out the details

I’m now thinking of how to do the math to get the predicted end date.

You’d essentially want Monzo to add up all your deposits, find the average amount and then the average timeframe between each one and then forecast a date?

So that falls back to needing a line like this:

@Acoolduck

“deposit x amount to reach your goal within x time”

[Acoolduck (Keian Dunnill)]

It gives me a rough idea, I’ll know I’m going to reach it this year and if not then maybe I need to increase my payments.

[Acoolduck (Keian Dunnill)]

@Acoolduck

You know this is a good idea, maybe we could set deadlines and Monzo would calculate what was needed each month to reach that deadline, if no deadline is set it would calculate when you would reach your goal based on current deposits?

I mentioned about having both in previous reply.

[Acoolduck (Keian Dunnill)]

It could be more accurate if based off more recent deposits say over the past month it calculates an average and used that

[Acoolduck (Keian Dunnill)]

@Eden

It’s not that its not a good or bad idea, but that a feature takes time and money to develop, so it needs real value (in my mind). time based goals are obvious, general amount goals have their use as well since you don’t care about when you just want to see how many £ to reach it. estimating a time based on deposits i’m having more trouble seeing in what scenario it would be needed. It could be implemented, but would people just end up using it as a time based goal instead? in which case why not just have a time based goal?

I completely understand that and see that more people would use a set target date and set target payments in which case this would be up to Monzo to implement, seeing an estimated completion date would be up to Monzo to weigh up the pros and cons. Having something like the RBS/NatWest system would be ideal as it says whether you will reach the goal early or late.