Goal funding

Why are goals funded from vaults??? Should just be funded from cash.

Hey Adam,

Welcome to our forum! We are excited to have you on board.

Goals are currently meant to be funded from Vault. If you prefer to keep your Vault untouched, I recommend setting up Custom Autonomous Envelopes for your Goals!

However, we are building a new system where we may allow users to choose where their Goals are funded from. We appreciate the feedback!

Best,
Jacqui

That’ll be great and will probably have to wait to actually use Envel because that’s 1 of the main features I need, unfortunately, besides cash and bills. Even setting up a custom folder will still force double budgeting as that folder will have to be budgeted out of the main cash folder just to feed the goals and for all that I may as well just put the money in the goal (lol!). Goal funds should trickle out of the main envelope, imo. Thanks!

Hey Adam!

By main envelope, do you mean your income account? This is where all the funds go before they are split by the AI. And technically, if you set up a custom autonomous envelopes, the funds will go directly from your income account to your custom autonomous envelope and won’t come out of your Cash.

If you give me an idea of your Goal and the timing of it, I’d be happy to advise you on how to best set this up!

I will also say that if you decrease your Spending Mode to ‘Budget Mode,’ this will increase the amount that goes into your Vault, and thus increase how much is available to fund your Goals.

All the best,
Jacqui

Best,
Jacqui

By main envelope I mean the cash envelope. 2 are for savings basically and then there’s the bills. I do not plan on using AI or modes and just needed the ability to manually separate funds ol’ school fashion like I did with a previous company with my envelopes and have withdrawals accordingly except with Envel I’d lump sum my bills to keep from using all those different account numbers. Example goals are saving for insurance every 6 months, buying a new phone, etc.

When you say income account, you mean cash, right? When a deposit is made, it goes into the cash envelope. That’s what I thought and have experienced at least.

Hey Adam,

So the Income account is the account you give to your employer for direct deposit. When funds enter your account (unless you route them to a specific envelope), they first go to Income, and then to Cash immediately after (if AI is off) or are split by the AI (if AI is on).

You are able to itemize your Bills if you click on the Brain icon at the top and select ‘Recalibrate.’ From there, you can enter your different Bills, due dates, and frequencies (such as insurance every 6 months). If you have AI on, then your Bills envelope will be funded to pay this Bill, and any other Bills you add!

For one time expenses like a new phone, I normally recommend creating a Goal, but you can also create (and later delete) a custom autonomous envelope for a new phone. The amount its funded each paycheck, which you control, would just depend on when you planned to buy the phone, and then you could delete it later!

Please let me know if you have any other questions or concerns!

Best,
Jacqui

Oh ok…so we don’t see the income envelope until/unless a direct deposit was made? Or that’s purely in the background? I’ve only done transfers so far so maybe that’s why I was confused. Transfers went straight to cash.

Yes it can be confusing! We are looking to phase it out. You can’t really view it like the other envelopes, but you can access your Income account info if you go to ‘Add Funds’, ‘Paycheck’. If you’d like your funds to be split by the AI, send them there! Just be careful as you can’t send money from that account, only receive money.

Yeah I guess some streamlining and tweaks will help down the road…Thanks!!!

1 Like

Anytime! Happy to help, and please feel free to reach out if you have any other questions.

Best,
Jacqui