In this article, the sections comprise:
- Definition
- How to create, edit and delete a goal wallet
- View the goal wallet in report
1. Defintion
Enables manual tracking of savings, setting savings goals, and recording deposits. This feature facilitates easy monitoring of savings progress over time. Multiple savings wallets can be created based on personal goals.
Note: MoneyLover does not currently support interest calculations as you would find in bank savings accounts. We will improve and update this feature in the future.
2. How to create, edit and delete a goal wallet?
To learn how to create, edit, and delete a Goal wallet, follow this guide: How to create, edit, archive and delete a wallet
3. View the goal wallet in report
On the Report Overview screen, if you choose a goal wallet (changed in the "all wallets" button), the app will display the following information for the selected time range:
- Goal value.
- Ending date of savings.
- Saved: Amount saved up to now.
- Remaining: Amount needed to reach the goal.
- Progress bar displays the amount saved compared to the goal.
- Chart showing income and expenses of the savings wallet.
- Inflow: Total money received in the savings wallet.
- Outflow: Total money spent in the savings wallet.
This information helps you track your progress toward achieving your savings goal, manage your finances more effectively, and adjust your plan as needed. By reviewing goal value, saved amount, remaining balance, and inflow/outflow charts, you can easily identify financial trends, detect potential issues early, and modify your spending and saving strategies to meet your financial goals more efficiently.