Setting a savings goal

Why set a savings goal?

A savings goal gives your Savings Pot a clear purpose and helps you stay motivated as you watch your progress. Setting a target transforms your pot from a general savings bucket into a focused tool for achieving specific financial objectives.

• Visual progress tracking: See how close you are to your goal with a progress bar

• Automation unlocked: Use target rules to automatically fill your pot

• Stay motivated: Watch your balance grow toward a concrete number

• Flexible adjustments: Change your target anytime as your goals evolve

Whether you are saving for a holiday, new phone, or home deposit, a target keeps you focused on the finish line.

Setting your target

You can set a target for your Savings Pot at any time, either when you first create it or later from within the pot.

1. Open your Savings Pot from the home screen

2. Tap Set up savings target in the Target card

3. Enter your target amount in the field provided

4. Tap Continue

Your target now appears on your Savings Pot account with a progress bar showing how much you have saved and how much remains.

Tracking your progress

Once you set a target, your Savings Pot account displays your progress toward your goal.

The Target card shows:

• Target amount: The total you are working toward

• Amount remaining: How much more you need to save

• Progress bar: A visual indicator of your current balance relative to your target

As you add money to your pot, the progress bar fills and the remaining amount decreases. When you reach your target, the bar fills completely.

Note: Your target is a guide, not a limit. You can continue adding money beyond your target and your balance will keep earning interest.

Adjusting your goal

Your savings goals may change over time. Perhaps the item you want costs more than expected, or you decide to set a more ambitious target. You can update your goal whenever you need to.

1. Open your Savings Pot from the home screen

2. Tap the menu icon (three dots) in the Target card

3. Select Edit target

4. Enter your new target amount

5. Tap Continue

Your progress bar updates immediately to reflect the new target. If you have already saved more than your new target, the bar shows as completely filled.

Using target rules with your goal

Setting a target unlocks the ability to use target-based automation rules. These rules automatically transfer money to your Savings Pot until it reaches your target, then pass remaining funds to the next rule in your list.

How it works:

1. Money arrives in your Cash account

2. The target rule checks your pot's balance against its target

3. If below target, it transfers just enough to reach your goal

4. Once your target is met, the rule is skipped and funds go to the next rule

To set up a target rule:

1. Navigate to Automation rules from your home screen

2. Tap Add rule

3. Select Reach a target

4. Choose your Savings Pot from the list

5. Tap Confirm

Your pot will now automatically receive funds until it reaches its target. You can reorder rules to prioritise which goals get funded first.

Removing your target

If you no longer want a target for your Savings Pot, you can remove it by setting the target to zero.

1. Open your Savings Pot from the home screen

2. Tap the menu icon (three dots) in the Target card

3. Select Edit target

4. Enter 0 as the target amount

5. Tap Continue

Your Target card will return to the initial state, prompting you to set up a savings target. Any target-based automation rules for this pot will be blocked until you set a new target.

Important: Removing your target disables any active target rules for this pot. Your money remains in the pot and continues earning interest.