✅ Sneak Peek: Starling Goals


#252

Oval Money also has a round-ups function. Previously only on iOS, they’ve just launched an Android app …I recieved an email about the Android app earlier today and it is available in the play Store.

(If you want to try it, you can get a £5 bonus if you use the code JW4VNNLU. Note: I also get £5 if you use the code.) If you don’t want the bonus, you can sign up without using the code.

Ideally, I’d like to see the round-up functionality within the Starling app and for round-ups to happen in real time. That would be a killer feature for me.


#253

Real time save the change would be much better, weekly is a pain and still a chunk to withdraw. Per transaction would never be missed.


#254

Totally agree! Real-time is the key. That could be saved to a round-ups pot all within Starling.

When I pay £2.40 for my coffee, £0.60 goes straight into the pot, automatically all within the app. How good would that be?! Then I could get rid of these third party apps. :grinning:


#255

Totally agree! Real time savings would be AMAZING! I don’t see why people have these saving apps that round up and then it pends for days before it’s visible on the 3rd parties app! Surely you want to spend say £2.50 on a coffee :coffee:️ and then 50p will whizz straight to your savings balance, so then it does actually feel and look like you’ve spend £3 where in reality you have saved 50p from the transaction - now that for me would be amazing, and I would use that all the time! Your savings would mount up so much quicker! :laughing:


#256

When did my life come to this…a “goal” for a new driveway…


#257

+1 on this. I tried moneybox and found their implementation quite clunky (not their fault, it’s just until PDS2 and open banking are more widespread it’s a best case scenario).

I don’t like that all my round ups and added up and taken by weekly DD, I want my round up to leave instantly. Staling goals could achieve this. Just as a nicely marketplace integrated app could, but right. Let moneybox doesn’t.


#258

Exactly this. MoneyBox, Oval, Chip etc all take periodic DDMs of round-ups calculated.

Instant round-up into a dedicated pot could be a quick win for Starling. I’m already using “Goals” (which is a bit of an inflexible term), and to have such functionality would actually be an appealing differentiator from the competition.


#259

Hi,

Having recently switched my current account to Starling as my primary, I’m delighted by the whole experience so far.

I didn’t really have the best financial education growing up and this has probably manifested itself in some poor decision making in my adult life.

From my perspective, Starling gives me the control, insight and learning to take better control and start making longer term decisions instead of thinking month to month.

The goals feature is great, however, think the following additions could really make it more effective.

**Target Date ** - what is the end date for each goal. Some will be recurring like Birthdays/ Xmas and some may be one off.

Estimated savings If you have designated an end date and a targeted sum, then suggesting to the user what savings should look like on a per week, month basis would be good as well has having suggestions on where savings could be made to arrive at your desired end point

**Paying from the goals ** I think right now, once you put money in the goals, you have to send it back to the main account before you can spend. This can somewhat skew your monthly spending (especially if you are trying to work to a budget) if you had the ability to pay for things from the goals, that would keep things separate perhaps

**Helping with pot weighting ** I typically try and save about £500 a month, however, the introduction of the goals has led me to adding a veritable wish list of all the things I want to do. It would be really helpful if starling helped allocate the principle sum of £500 across the pots based on ‘due date’ of the target goal and importance so you are still adding many but it is proportionate to the closeness / importance of any goal.

Best wishes,

Steven


#260

Hi Steven,

Yep - agree with all those. Starling have, I believe, already said that Target Date and Paying from Goals is on the roadmap for a future version of goals.

Being slightly pedantic, ‘estimated savings’ actually should be called ‘recommended savings’. Estimated savings would be ‘If you regularly save £X per month, you’ll have £Y by Z date’ whereas ‘recommended savings’ would be ‘If you want to save £Y by Z Date, you need to save £X per month’. That would then feed into the pot weighting suggestion where the app can see you’ve got 4 goals with different target amounts and dates, and can then work out itself the percentages needed to split the lump sum.


#261

Hi All,

Scheduled payments for Goals on iOS are in the App store now. Enjoy :tada:.
And admit it! You did not expect a release on Wednesday :scream:


#262

I’m sure this has been covered but I’ve missed it. What happens to the cash in a goal once the target had been reached does it stay in the goal until I want to actually use it and also if I set up a regular payment to a goal once the target is reached does the scheduled payment cease or continue


#263

The answer to the first question is yes - the balance stays there until (currently) you release it back into the ‘main’ account for spending. I don’t know what happens with recurring payments (yet)!


#264

Thanks you


#265

I guess you don’t have these options?


#266

Hi I do I just wondered whether your target value had a bearing on the option selected as in once reached any scheduled payments stopped or it would just continue


#267

Currently, it would continue. We’re open to feedback though! :slight_smile:


#268

That’s fine for me most of my goals are based for the year so I have a target with a regular payment once I got that target I’ll take out the cash and the cycle will continue so for me that’s perfect


#269

Awesome - that’s useful to know! :slight_smile:


#270

Would be a nice touch if it actually stopped on reaching the goal


#271

Maybe that could be another Selectable option to choose