We've added a new feature to our ever growing list of money management tools. This new tool is called the Save-Up Tracker and it helps you keep track of various goals you're saving up for.
To help understand how the Save-Up Tracker works, let us give you an example. Lets say you have a Savings account that you put money in every month as a way to save up for something. For this example, we'll say you're saving up for a new laptop computer that costs around $1,000 and you want to have it by June.
You can use the Save-Up Tracker to enter this goal, the amount you're trying to save ($1,000), which account the money will come from (Savings) and the deadline (June 2013). Once you add the goal we will keep track of your progress by comparing the balance in your Savings account to the amount of the new laptop. The more money you get in your Savings account, the closer you'll get to your goal. Once you reach your goal we'll turn it green so you know you can now buy your laptop.
The deadline is optional and doesn't have to be set for a goal. Also, another option is to set a percentage for each account. In the example above, if you were also saving up for a $500 new digital camera you could also apply it to the Savings account but set the digital camera as 25% of the Savings account balance and the laptop as 75%. This way you can track multiple goals with the same account and weigh them differently according to how important each goal is to you.
The Save-Up Tracker can be found by clicking on the Tools navigation icon and then Save-Up Tracker. We've also provided a gadget for the ClearCheckbook Dashboard so you can quickly see how you're doing from the Dashboard page.
You can see some screenshots and read some more information about the Save-Up Tracker here: https://www.clearcheckbook.com/save-up-tracker