✅ Sneak Peek: Starling Goals


#1

One of the things we mentioned in our Roadmap blog was savings ‘Goals’, which is a feature coming soon to the app. We’ve got some details below - it would be great to get your feedback, and hear about what Goals you’d want to set up!

Here’s what you’ll be able to do:
-Set goals for whatever you like: festivals, a souped up bicycle, summer holiday…whatever you like
-Customise images for each goal to help keep you motivated
-Choose to auto-save every month, or top up as you see spare money in your account
-See how close you are to your goal as a percentage


Android payment system to iOS
Show my goals balance on the app homepage
Stock Pictures for Goals
Welcome to the community
#2

This sounds great: it would be great if small sums could be added automatically a little like how moneybox works. Also the more discreet they are made in the app the less tempting they may be for me to dip into. Also perhaps auto suggestions for things such as a raining day fund ( 3 months income) would be helpful.


#3

As well as saving goals it would great to have goals to pay off debt. Kind of the same thing but the approach might be slightly different (debt snowball or avalanche, pay off debts one by one, in order of interest amounts etc)


#4

Can’t wait to try this! Sounds very handy, like others have said something similar to moneybox that roundsup money to put into a goals account would be very useful. Similar to Chip, Plum, moneybox or Save the Change by Lloyds


#5

I thought of the same idea exactly like moneybox (obviously not investing like moneybox does) but this is something I’d totally use. Although at some point down the line the idea of ISA’s might be included by starling who knows but I like the idea of those small savings put away from your account.


#6

It would be great if a time delay could be set (E.g.) 24 hours before you will “receive” or are able to spend money you withdraw from a savings goal, to avoid dipping in easily and hence not making progress on your goals. I use squirrel and this is a very useful feature for me.


#7

Is the reason for this to avoid unnecessary impulse spending?


#8

It’s not immediately obvious to me how this would work.

Does the saved money get moved to another account or siloed away somehow from the main account balance?

It sounds a good idea but the implementation is key.


#9

Yes, implementation is definitely key. We’ll be looking to get some feedback in a few weeks when we have a build ready we can get in customers’ hands.

We prefer the idea of having a barrier between your main account balance and any Goals, but within the same account - we think this gives customers maximum flexibility to create/remove Goals as you need them without having to create/close a lot of different bank accounts, and also makes it much more simple for things like managing things like bank statements, overdrafts and interest payments.

We have also thought about similar concepts for paying off debts, as this is big part of helping customers lead a healthy financial life. May be worth a separate Topic on this and it’s a great chance for any of our community members to feed into those ideas at an early stage.


#10

Hi neilarch, yes the delay I mention would be to avoid impulse spending. But not everyone may need or want this. For me it would be helpful.


#11

I currently faf money between my current account and savings account every month so this looks like it will help me out a lot.

Itll be interesting to see how it is implemented. Although I like the idea of a 24 delay, can a bank prevent you from accessing your own money like that?

I think I would prefer there to be a warning message if I’m going to break into my goal money to give me pause for thought. Maybe the warning could consist of a picture or a phrase. Like if I’m saving for a holiday, I’d set the warning to a picture of a beach so I can visualise what I’m aiming for.


#12

Ollie, that’s what we’re thinking.

We don’t want to decline you when you’re trying to pay, because it’s not our place to do so, but we can do things like giving you the option to have your card automatically lock if you break into a Goal. We can also give you a heads up if you’re coming close to eating into a Goal via a push notification.


#13

I like the idea of locking the card because, presumably, you’d be able to unlock it in the normal way. Having to do that would give me pause for thought and I’d have to activly decide to break into my goal money.

Sounds good ben.


#14

It might be nice to be able to prioritise goals so that if you do ‘eat into them’ it eats into your least important ones first.


#15

Would be very useful for me :neutral_face:


#16

Will saving goals work a little like a very basic savings account? For e.g I want to put money away for a holiday to Florida, if a assign money to the trip will it take it from my available balance and then keep it in a savings goal area? Thank you


#17

Personally I would like whatever I’m saving for to be not shown in my current account so any cash “I’ve transferred to it” as if it’s there then I’ll spend it if it was hidden but viewable elsewhere that would suit me. The ability to have multiple goals split out from current account would be good, you could maybe on the home screen where your circle spending displays for the day have a link to each goal as another smaller circle outside of the centre one. Simply tapping one would then take you to that goal


#18

Sounds great.

Currently I send money to a savings account which is used towards going abroad. I also separate my rent into a second current account to avoid spending it. The ability to do all of this in one place would be great, having a barrier and limited visibility between the goals would be great.

Id love to have a a similar set up for bills where im able to put money to cover my bills into a pot which my direct debits then come from. Almost seperating spending and bills under the same account.


#19

Yes I like your idea @Stevibobs as I am currently using a savings account for my savings and my dd money so I don’t spend it.


#20

This sounds like a good idea Matthew. I’d like to have the choice of how the funds are displayed; either the total including ‘Goal Funds’ or the total minus ‘Goal Funds’. I imagine the way I use the app to manage my money will change a lot so the more customisable the better.