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Goals

As Budget Forward simulates the future, it takes note of all income that isn't required for set expenses. This is represented on the Budgets screen as Potential. Goals are attached to any Standard Account and income into this account that meets the potential requirement is is offered to the goals based on their priority. There are several types of goals:

Savings

This is a simple goal which will collect income into a Goal Pocket Account until the target amount is reached.

Repay Credit Card

This goal will allocate funds into a credit card until it has achieved a zero balance.

Repay Loan

This goal will allocate funds into a loan until it has achieved a zero balance.

Offset Loan

This goal will allocate funds into a Goal Pocket Account until the offset matches the amount owing on the loan.

Transfer

This goal will transfer its allocation of potential funds to another account. If the destination account is also a Standard Account, these funds can optionally be used for Goals that are attached to that account as well. This allows you to create a stacked hierachy of goals.

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Budget Forward - Learn More

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Budget Forward is a budget planning app that takes your savings and debts along with your income and expenses and simulates your future financial position. You can also set goals such as repaying or offsetting loans, paying off credit cards and saving for future expenses. Budget Forward will know when you have available funds and allocate them to these goals according to priority.

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It can be really daunting to start budgeting, so here we take a look at the structure of a plan in Budget Forward and the best way get started.

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Learn about the three types of accounts in Budget Forward

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