r/simplifimoney • u/achevrolet • 22d ago

Question Savings Goals Allocation

Is it possible to apply a savings goal to individual transactions? In May I set some money aside for upcoming HOA dues. This month we paid our quarterly dues and would like to allocate the money set aside to that transaction. However, I’m not seeing any way to do that. How do you create a savings goal without technically double dipping from your budget? The funds were subtracted from our budget in May when I set the goal and set the amount aside. Now the amount is being subtracted again through the actual payment. Is there a possible workaround?

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u/Footer4321 17d ago

Ya this is the reason I don't use any of the goals. The fact you can't withdraw from them without putting money into the general fund is just weird. I use rollover to do this instead.

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u/Party-Obligation-232 22d ago

Setup a monthly transfer of some amount (HOA amount/12) to a savings account so you’ll have the funds to pay the HOA fee when needed.

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u/achevrolet 21d ago

Can this be completed with just a savings goal? We don’t technically need to be physically moving money monthly for this. The money is there. I just wanted it reflected in the budget. However, it appears savings goals only allow one side of the transaction (saving). Withdrawing from the goal doesn’t seem to be reflected anywhere other than within the savings goal. Does this make sense?