Savings and goals
Jen from Lunch Money
Use case #1: Help plan for "By X date, I need Y set aside"
Use case #2: Set a budgeting goal for a specific category to "Save X amount every month"
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Carlos Veiga
Hi Jen - Do you need any more testers for this, even before it gets to Beta? I'd be very glad to help!!! I'm moving from YNAB to Lunch Money so I've had quite a bit of experience around budgeting/saving for specific goals over time, etc.
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Shashank
+1 to this feature.
few suggestions -
- Savings shoud be a category like Income, expenses
- goals should be able to help you realise certain things like - did i donate X amount targetted, Did i save the target amount, did i keep my expenses within the X limit etc.
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Walter
Very excited about this feature. I have expenses that happen every few months, and I'd like to save up every month for them.
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Mark Sherwood
Jen from Lunch Money any updates on this one? Seems like an in demand request here and discord! 🙏 �
Jen from Lunch Money
Mark Sherwood: Yes! The new budgeting feature will support savings and goals 🥳 It's almost ready for alpha testing and next, it will move into beta testing. Make sure you join the beta testing group to stay posted!
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Mark Sherwood
Jen from Lunch Money yahoo, I've joined! Thank you!
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Timothy Miller
A bit surprised this hasn't been higher on the implementation list. I've been comparing Lunch Money to Monarch, and this is the only feature Monarch has that Lunch Money doesn't that is making me consider using Monarch instead. It's great to be able to designate the funds in my different cash and investment accounts to different savings goals I have (vacations, down payments, future car purchases, etc.)
Din from Lunch Money
Merged in a post:
Add Savings Goals
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Lauren Kantrovich
Right now lunch money is great at tracking spending, but not so good for tracking amounts set aside for a specific purpose. It would be awesome if you could set savings goals that you could contribute to in the budget section and that would go up and down in value when you debit/credit a transaction to that category. Especially for those used to an envelope system, being able to set aside $50 a month to buy Christmas gifts in the winter would be great, but right now the only way you can try to imitate this is with the rollover function - which doesn't really work when trying to add up all you have in your budget to compare against your income for the month. For me, the ideal would be another "savings" window in the Finance section where you could track savings goals. In set up, you could denote that the category is a savings type, and then in the savings tab you could view a bar or pie graph or some graphic to see how close you are to reaching your goal amount. Again, as you debit or credit transactions to the category, this progress would be impacted. Essentially, it'd be like creating an online envelope.
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James & Karen
Hoping to switch from YNAB to Lunch Money and I would really love to see this in Lunch Money!!
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Josh Takacs
I am currently using Simplifi and the only thing stopping me from fully committing to LunchMoney is a savings and goals feature.
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Michael
I was looking for this too - would be a reason to subscribe!
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James Wilmoth
This is really the only functionality that is making me second guess moving from EveryDollar. I have so many bills on annual pay, and I do not like surprises! So with ED, I would setup future expenses divided into monthly amounts that I could count as part of my monthly budget. I would "spend" the money by paying it to myself. I have tried to mirror this in LM, but it's very cumbersome at the moment since it's not native functionality.
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