Saving target with monthly budgeting cap
I feel that there is an easy way to achieve this but I am unable to set it up and now wondering if this is feasible.
Put simply, I have a saving goal let's say of £500 and I don't want to allocate more than £60 a month.
That means that even if I use all or part of it, I would want to be reminded that I need to start budgeting another £60 a month until the target is hit.
So in practice, it would look like a "Monthly Saving Builder" but with a max balance. When hit, there wouldn't be a need to budget for that category.
I'm sure I am not the only one that feel this would be helpful :D
This request comes up several times a year. I even asked for a goal/target to support this thinking way back in 2016. Still waiting.
It wouldn't hurt to put in a feature request for it.
What I currently do is use a Savings balance target and fund the category by using the same as last month's assigned quick budget option. When it reaches the target I stop funding it.
Unfortunately he quick budget option to reduce overfunding doesn't calculate correctly, so it ca't be used here when too much is added.
Also, as a backstop, I also use reminders in the category name. For example:
Household Goods - 60|360 [C]
60 - monthly funding amount
360 - max amount to have the category funded
[C] - something added for quick filtering so that I can quickly find and review all my categories with a cap. I also use [S] for categories where I sweep out leftover money at the end of the month.