New Features: Goals, Carryover, Runway, & More
We just rolled out a bunch of new improvements to Spend that we think you’re going to love. The focus of this release, and what everyone was asking for, is the ability to set aside money for goals, like property taxes or planning for a vacation.
Goals & Recoveries
Now, you can set aside money for a vacation, planned expenses, or just a rainy day. Goals reduce your allowance by an amount you choose, either perpetually or until you hit a certain dollar amount target. When the time is right, you can re-add that money to your Safe to Spend by closing & cashing-in the goal. Learn more
Carryover
Starting today, if there’s still money left in your Safe to Spend at the end of the week, that amount will carry over to the following week. If you overspend, that amount will be deducted from your Safe to Spend the following week. Learn more
Runway
Previously in beta, runway is now an official part of the app and will help you get a better sense of your overall financial health. It works by dividing your total cash balance by your recurring expenses and average spend. Your runway is how many months your cash will last if your monthly expenses and your average spending stay the same. Learn more
Average Spending Mode (BETA)
We also launched a beta feature to help folks that have inconsistent income. Rather than track your Safe to Spend by looking at what’s left after recurring expenses, plans, and carryover, you can set your Safe to Spend to be calculated by averaging your spending over the last 4 weeks (or 3 months, if you prefer monthly).
As always, we really appreciate your support and welcome your feedback. Comment here or email us at help@spend.money with any questions or considerations you’d like us to hear about.
Happy spending!
Morgan & Avand