> ## Documentation Index
> Fetch the complete documentation index at: https://help.joinmiyo.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Create a savings goal

> Create a Miyo savings goal to track progress toward one total amount, add an optional target date, and see the pace needed to reach the finish line.

A savings goal tracks one total amount you want to reach. It is different from a spending budget. A budget shows how much remains available to spend. A savings goal shows how much progress you have made toward a finish line.

<Info>
  A \$10,000 savings goal means **save \$10,000 total**. It does not mean \$10,000 per month or per year.
</Info>

## Create the goal

<Steps>
  <Step title="Open Savings goals">
    Open **Budget**, then choose **Savings goals**. Select **New savings goal**.
  </Step>

  <Step title="Name the goal">
    Use a name you will recognize, such as **Vacation**, **Emergency fund**, or **New laptop**.
  </Step>

  <Step title="Enter the savings target">
    Enter the total amount you want to reach. A new goal starts at \$0 unless you add progress after creating it.
  </Step>

  <Step title="Add a target date if you want a pace">
    The date is optional. If you add one, Miyo estimates the monthly amount needed to reach the remaining total by that date.

    Without a date, Miyo still tracks your progress but does not invent a recurring contribution.
  </Step>

  <Step title="Choose an icon and color">
    These choices help you recognize the goal. Select **Create goal** when the details look right.
  </Step>
</Steps>

## See how progress works

Suppose you create a **Vacation** goal with a \$10,000 savings target:

| Event                        |   Saved | Progress | Remaining |
| ---------------------------- | ------: | -------: | --------: |
| Goal created                 |     \$0 |       0% |  \$10,000 |
| You contribute \$200         |   \$200 |       2% |   \$9,800 |
| You contribute another \$800 | \$1,000 |      10% |   \$9,000 |

Miyo calculates progress as **amount saved divided by the savings target**.

A contribution increases the amount saved. It does not reset at the start of a new week, month, or year.

## Goals and budget targets answer different questions

<Columns cols={2}>
  <Card title="Savings goal">
    **Question:** How close am I to one total finish line?

    Example: Save \$10,000 for a vacation.
  </Card>

  <Card title="Budget category target">
    **Question:** How much should I assign or keep available for this spending category?

    Example: Keep \$1,000 available for car repairs.
  </Card>
</Columns>

Use a [budget category target](/budgets/category-targets) when you want recurring **Add another** or **Refill available** behavior. Those options do not apply to a savings goal.

## Update the goal

Open the goal to select **Add contribution**, edit its total or date, pause it, or resume it. Miyo marks the goal complete when the saved amount reaches the savings target.

<Note>
  Miyo tracks organization and projected pace. It does not transfer money between bank accounts when you create a goal or add progress.
</Note>