How do I plan for a big upcoming expense?

Goals are a great way to see cash that's left over after expenses and to earmark that “extra cash” for expenses.

When you start a Goal, you are asked some basic questions about what you are saving for, and given a chance to name the goal and assign an emoji. After providing a target saving amount, starting balance, and target end date, you can create the goal.

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After the Goal is created you are able to contribute to or edit the goal.

If you want to return the earmarked funds to your accounts after completing the goal, you may release the saved funds and spend them!

Delete the goal if you no longer need it.  

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You can specify the accounts you want to pull money from to contribute to your Goals. We will automatically show you your total available savings as balances change. You can set your monthly contribution level and see them alongside your planned income and spending.

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By default we subtract your credit card balances from your "available savings". You can change this by changing which accounts are selected to be a part of your Available Savings. Click on "Available Savings" in the top right from the Goals page.

 

Please note: Money cannot be moved in or out of your bank accounts from within Monarch. Goals are a way to earmark liquid assets but does not literally affect any money.

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