Financial Goals
Reserve available cash from one or more eligible bank accounts toward a Goal without changing the accounts' actual balances.
5 min readBEFORE YOU START
Allocation uses cash that is currently Available for Goals in your eligible bank accounts.
Create the Goal and set its target first.
Have at least one eligible bank account with Available for Goals.
Remember that allocation reserves cash inside MoniTrak — it does not move money from the bank.
STEP BY STEP
Choose the active Goal you want to reserve money toward. Its current target, reserved amount and remaining amount show how much progress has already been made.
Remaining shows how much of the Goal target has not yet been reserved.
MoniTrak shows the cash position of each eligible bank account so you can see how much is still available to reserve toward Goals.
Actual Cash and Available for Goals are different. Only the available amount can still be reserved without reusing cash already committed to another Goal.
Enter how much of the selected bank's Available for Goals you want to allocate. MoniTrak checks the amount against what that bank can still provide.
The amount cannot exceed the bank account's current Available for Goals.
If the amount still needed for the Goal is greater than the first bank's Available for Goals, continue the allocation using another eligible bank account.
One Goal can be supported by more than one eligible bank account.
You can continue with another eligible bank when necessary. MoniTrak does not require one bank account to cover the entire Goal allocation.
Before saving, check the allocation by bank. The banks' actual cash stays the same, while Reserved for Goals increases and Available for Goals decreases.
Allocation changes MoniTrak's Goal reservation records. It does not withdraw, transfer or move money between your actual bank accounts.
After confirming the allocation, the Goal's Reserved amount increases and its Remaining amount decreases. Progress is based on the cash now reserved toward the target.
The Goal progress changes because more cash is reserved for it — not because money was moved out of the bank.
THE ALLOCATION FLOW
MoniTrak separates the Goal reservation from the underlying bank balance so you can see what cash has been committed and what remains available.
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