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Goals

Goals in Ledgerly help you track progress toward specific financial objectives.

What are Goals?

A goal is a target amount you want to reach in a specific account by a target date. Goals help you:

  • Track savings progress
  • Monitor investment growth
  • Plan for large purchases
  • Stay motivated

Creating a Goal

  1. Go to Goals → New Goal
  2. Enter:
  3. Name: What you're saving for (e.g., "Emergency Fund", "Vacation")
  4. Target Amount: How much you want to reach
  5. Target Date: When you want to reach it (optional)

  6. Account: Which account to track (e.g., Savings account)

  7. Save

Goal Progress

Ledgerly automatically calculates:

  • Current Progress: Current balance of the target account
  • Progress Percentage: How close you are (current / target × 100)
  • Remaining: How much more is needed

Example

Goal: Emergency Fund - Target: $10,000 - Current: $7,500 - Progress: 75% - Remaining: $2,500

Goal Types

Savings Goals

Track money saved in a specific account:

  • Account: Assets:Bank:Savings
  • Target: Amount you want to save
  • Example: "Save $10,000 for emergency fund"

Investment Goals

Track investment account growth:

  • Account: Assets:Investments:Stocks
  • Target: Target portfolio value
  • Example: "Reach $50,000 in investments"

Debt Payoff Goals

Track paying down debt (use negative target or track liability decrease):

  • Account: Liabilities:Credit Cards
  • Target: $0 (or target balance)
  • Example: "Pay off $5,000 credit card debt"

Goal Dashboard

The Goals page shows:

  • Progress bars: Visual representation of progress
  • Current vs Target: Side-by-side comparison
  • Time remaining: Days until target date (if set)
  • Quick actions: Edit or delete goals

Best Practices

1. Set Realistic Targets

  • Base targets on your income and expenses
  • Consider time constraints
  • Break large goals into smaller milestones

2. Use Specific Accounts

  • Track goals in dedicated accounts when possible
  • Example: Separate "Emergency Fund" savings account

3. Review Regularly

  • Check progress monthly
  • Adjust targets if circumstances change
  • Celebrate milestones

4. Set Target Dates

  • Creates urgency and motivation
  • Helps with planning
  • Shows if you're on track

5. Multiple Goals

You can have multiple goals:

  • Short-term: Vacation fund (3 months)
  • Medium-term: Car down payment (1 year)
  • Long-term: Retirement (30 years)

Goal vs Account Balance

  • Account Balance: Current amount in the account
  • Goal Progress: How close you are to your target
  • Goal Percentage: Progress as a percentage

The goal tracks the account balance, but adds context (target, deadline, purpose).

Editing Goals

You can update:

  • Name: Change the goal description
  • Target Amount: Adjust the target
  • Target Date: Change or remove the deadline
  • Account: Switch which account to track

Note: Changing the account resets progress calculation.

Deleting Goals

Deleting a goal: - Removes the goal tracking - Does not affect the account or transactions - Does not affect past progress

Useful when: - Goal is achieved - Goal is no longer relevant - Starting fresh with new goals

Limitations

  • Single account: Each goal tracks one account
  • Manual updates: Progress updates when account balance changes (via transactions)
  • No alerts: No notifications when goals are reached (future feature)

Example Scenarios

Emergency Fund

Goal: Save $10,000 emergency fund - Account: Assets:Bank:Savings:Emergency - Target: $10,000 - Date: 12 months - Progress: Tracked automatically as you save

Vacation Fund

Goal: Save $3,000 for vacation - Account: Assets:Bank:Savings:Vacation - Target: $3,000 - Date: 6 months - Progress: Monthly contributions tracked

Debt Payoff

Goal: Pay off credit card - Account: Liabilities:Credit Cards:Main - Target: $0 - Date: 18 months - Progress: Balance decreases as you pay