Prerequitiste

4. Use your Free Cash Flows to hit your goals

How to plan savings goals

Forecast your goal purchase

  1. Define the cost of your goal and desired purchase date. If your goal is made of several purchases such as holiday presents, or holidays, create several smaller goals.
  2. Open Nova, add a new one-time Forecast with the name of your goal, amount and desired date
  3. Set which account you’ll pay with and press Done

Nova will forecast that future payment in your Balance forecast and Cash Flow forecast.

Forecast your monthly savings transfers

  1. Define the amount you need to save and desired deadline. Divide that amount by the number of months you have. That's your monthly required savings.
  2. Open Nova and create a new recurring expense with a period of "monthly", an amount equal to your monthly required savings, and the day of the month you want to execute these monthly transfers
  3. Select the relevant category and the account you will pay from and press Done

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Nova will create a new recurring forecast to project your monthly savings transfers.