Contributing funds to a savings goal in Quicken does not affect your net worth amount.
- In Quicken, click on Planning on the top tool bar.
- Click on Savings Goals, then click on Contribute in the upper left corner of the pop-up window.
- Select the account from which to transfer funds to the savings goal. The money will not actually be removed from the account, it will simply be hidden until you need to retrieve the funds.
- Enter the date of the contribution to the savings goal and the amount to contribute. Quicken defaults the contribution amount to the monthly projected contribution amount, you can accept this or enter another amount.
- Click on OK.
Account Balances and Savings Goals
The balance of the account(s) used for savings goals contributions will be artificially reduced by the amount of the contribution to prevent you from spending money set aside for the saving goal. The money is still in the account and you can view the true account balance at any time.
Savings Goal Contributions from Multiple Accounts
Contributions to a savings goal can be made from more than one account. If you use multiple accounts to fund a savings goal, each account balance will be reduced by the amount contributed by the respective account. For example, if you contribute $10 from your checking account and $25 from your savings account to a savings goal, the checking account balance will be $10 less than the actual balance and the savings account balance will be $25 lower than the actual balance.
