Financial Goals
Create a financial target, choose when you want to reach it and give MoniTrak the details it needs to help you plan your progress.
5 min readBEFORE YOU START
You can create the Goal first and decide how much cash to reserve toward it separately.
Know what you are saving or reserving money for.
Have a target amount in mind.
Choose when you would like to reach the Goal.
Decide whether you want to plan regular contributions.
STEP BY STEP
Open Financial Goals and choose the option to create a new Goal. This starts the Goal setup without moving or reserving any bank cash yet.
Create a Goal and define what you want to achieve before deciding how to fund it.
Creating a Goal does not change any bank balance or reserve cash automatically.
Give the Goal a clear name and enter the total amount you want to reach. The target becomes the amount MoniTrak uses to measure progress.
Use a target that represents the full amount you want to reserve for the Goal.
Set the date by which you would like to reach the Goal. MoniTrak can use the remaining time together with your target and current progress to help explain the contribution needed.
The target date is a planning date inside MoniTrak. It does not schedule a bank transaction.
Choose how you would like to plan future contributions toward the Goal. The contribution information helps you understand the pace required to reach your target.
This is a planning recommendation. MoniTrak does not automatically transfer AED 1,000from your bank account.
Contribution planning helps you stay on track, but actual Goal reservations are managed separately.
Check the Goal name, target, target date and contribution plan together. This gives you a clear picture of the plan before you start allocating available cash.
Saving the Goal creates the plan. Cash is only reserved when you allocate available money to it.
After saving, the Goal appears in your active Goals. Its target and planning details are visible, while progress reflects only the cash that has actually been reserved toward it.
The Goal is ready. You can now decide which eligible bank cash to reserve toward it.
A new Goal can exist with no cash reserved yet. Creating the plan and allocating cash are separate actions.
YOUR GOAL PLAN
Your target, target date and contribution plan describe what you want to achieve. Reserving actual available cash toward that Goal is the next step.
NEED MORE HELP?
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