Setting and Achieving Financial Goals¶

Financial goals give your money purpose. In Doughsense, the Plans feature helps you define what you want to achieve, tracks your progress automatically, and even suggests the best path forward.

Understanding Plans¶

Doughsense offers three types of plans to match different financial objectives:

Note: These categories (Goals, Milestones, Events) are designed to help you organise your thinking and group similar plans in the interface. There's no functional difference between them - they all work the same way under the hood. Choose whichever category feels right for your plan.

Goals 🎯¶

Things you're actively working toward:

• Building an emergency fund
• Saving for a house deposit
• Reaching a specific net worth
• Paying off all debt

Milestones 🏆¶

Achievements worth celebrating:

• Becoming debt-free
• Reaching positive net worth
• Hitting your first £100k
• Achieving financial independence

Events 📅¶

Future dates to prepare for:

• Retirement
• Children's university
• Major purchases
• Life transitions

Creating Your First Goal¶

Let's walk through setting up a common goal - an emergency fund:

Step 1: Start Creating¶

1. Go to the Plans tab
2. Tap the + button
3. Choose Goal as the type

Step 2: Name and Describe¶

• Name: "Emergency Fund"
• Description: "Save 6 months of expenses for security"

Step 3: Set Your Target¶

Define what "complete" means by setting conditions:

1. Choose what to track: "Savings Account Balance"
2. Set the comparison: "Greater than or equal to"
3. Enter your target: £15,000 (or 6× your monthly expenses)
4. Choose target type:
   • Actual Money: The exact amount in future pounds
   • Today's Money: The amount in today's purchasing power (Doughsense adjusts for inflation)

Step 4: Save and Track¶

Tap Save, and Doughsense will:

• Calculate when you'll reach your goal
• Track your progress automatically
• Show you on the Timeline

Setting Effective Conditions¶

Conditions tell Doughsense when your plan is complete. Here's how to set them effectively:

Target Types: Actual vs Today's Money¶

When setting monetary targets, you can choose:

Actual Money - The exact amount you'll need in future pounds/dollars/euros - Good for fixed targets like "pay off £10,000 debt" - The number stays the same regardless of inflation

Today's Money (Inflation-Adjusted) - The amount in today's purchasing power - Doughsense automatically adjusts for inflation over time - Perfect for long-term goals like "retire with £1M in today's money" - Ensures your goals maintain their real value

What You Can Track¶

Account Balances

• Specific account values
• Total across multiple accounts
• Investment portfolio value

Net Worth Metrics

• Total net worth
• Liquid net worth (accessible money)
• Net worth milestones

Debt Levels

• Individual debt balances
• Total debt across all liabilities
• Debt-free status

Income & Expenses

• Annual income levels
• Savings rate percentages
• Monthly cash flow

Time-Based

• Your age
• Specific calendar dates

Simple vs. Complex Conditions¶

Simple Condition (One requirement):

• Emergency Fund: Savings ≥ £10,000

Multiple Conditions (All must be met):

• House Ready: Savings ≥ £50,000 AND Debt = £0

Alternative Conditions (Any can be met):

• Retirement Ready: Age ≥ 65 OR Pension ≥ £500,000

Practical Goal Examples¶

Emergency Fund¶

Target: 3-6 months of expenses in savings

Condition: Savings Account ≥ £15,000

Debt Freedom¶

Target: Pay off all consumer debt

Condition: Total Credit Card Debt = £0 AND
          Personal Loan Balance = £0

House Deposit¶

Target: Save 20% deposit plus costs

Condition: House Fund Account ≥ £60,000 (Actual Money)

Retirement Readiness¶

Target: Enough to maintain lifestyle

Condition: Investment Account ≥ £750,000 (Today's Money) OR
          Age ≥ 67

First £100k Net Worth¶

Target: Major wealth milestone

Condition: Net Worth ≥ £100,000

Using Plan Suggestions¶

One of Doughsense's most powerful features is Plan Suggestions - it can automatically calculate optimal dates and amounts for your financial activities.

How Suggestions Work¶

When creating or editing income/expenses, you can:

1. Link the end date to a plan
2. Let Doughsense calculate when to stop
3. Use suggested final amounts for precision

Example: Emergency Fund Savings¶

You're saving £200/month for your emergency fund:

1. Create the expense targeting your savings account
2. Link the end date to your Emergency Fund plan
3. Doughsense shows: "Goal reached in March 2025"
4. The expense automatically stops when complete

Example: Debt Payoff¶

Paying £500/month toward credit cards:

1. Create expense targeting the credit card
2. Link to your "Debt Free" plan
3. Enable final amount suggestion
4. Last payment automatically adjusted to exact payoff

Tips for Success¶

Start with One Clear Goal¶

Don't overwhelm yourself. Pick one meaningful goal and focus on it.

Make Goals Specific¶

Instead of "Save more," use "Save £10,000 by December 2025"

Break Down Big Goals¶

Large goals feel overwhelming. Create milestones:

• 25% of house deposit saved
• 50% of debt paid
• First £10k invested

Review Monthly¶

Check your Plans tab monthly to:

• See progress
• Adjust if needed
• Celebrate wins

Use the Timeline¶

The Timeline shows exactly when you'll achieve each goal. Use it to:

• Test different scenarios
• See impact of changes
• Stay motivated

Common Goal Templates¶

Short-Term (1-2 years)¶

• Emergency fund
• Holiday savings
• Small debt payoff
• First investment account

Medium-Term (2-5 years)¶

• House deposit
• Car purchase
• Debt freedom
• Career development fund

Long-Term (5+ years)¶

• Children's education
• Financial independence
• Retirement planning
• Property portfolio

Troubleshooting Goals¶

Goal not showing progress?

• Check that linked accounts are updated
• Verify condition is set correctly
• Ensure related expenses/income are active

Timeline seems wrong?

• Update all account balances
• Check growth rate assumptions (using presets or custom rates)
• Verify income/expense amounts

Goal completed but still shows active?

• The Timeline updates when you view future dates
• Check the current date view
• Refresh by navigating away and back

Your Next Steps¶

1. Choose your first goal - Start with something achievable
2. Set it up in Plans - Be specific with conditions
3. Link your savings - Connect expenses to the goal
4. Track progress - Check monthly and celebrate wins
5. Add more goals - Build momentum with success

Remember: Goals aren't just dreams - they're destinations on your financial journey. Doughsense is your GPS, showing you exactly how to get there.

Pro Tip: Once you achieve your first goal, you'll have proven you can do this. Use that confidence to tackle bigger goals!