How do Goal Boosts work? – tillfinancial

The account owner, admins, and community members can make recurring contributions to help the kid(s) reach their goals faster. ⚡️

Creating a Goal Boost 🚀️

To get started, tap on Add a goal boost on the kid's save goal screen. There are three different goal boost options to choose from. (See below)

Match each deposit (You'll match a percentage of every deposit they make into this goal)
Weekly recurring (You'll contribute a fixed amount to this goal once a week)
Monthly interest (You'll contribute a percentage of the goal balance at the end of each month)

Match contributions encourage the kid to contribute to their savings goals actively. Every time a kid adds funds to their goal, your contribution will match them at a specific percentage. In other words, kids are monetarily reinforced every time they work toward their goals. You can select the percentage of a kid's contribution you want to match. You can also set a maximum single and/or total amount to safeguard against spending more than you're comfortable with.

Here's an example:

Every time Tommy adds money to his $300 goal for a New Bike 🚲️, Uncle Tony will match that amount at 20%

Weekly contributions are fixed-amount, weekly transfers toward a goal. You can select the amount and the day of the week to contribute.

Here's an example:

Wanda will contribute $10 every Saturday towards Tommy's $300 goal for a New Bike 🚲️

Monthly Interest contributions occur on the last day of each month. You can select either a 5%, 10%, or 25% interest rate. You can also add safeguards such as max single amount paid and max total amount paid, so you don't contribute more than what you are comfortable with.

Here's an example:

On the last day of every month, Agatha will contribute 10% of Tommy's $300 goal for a New Bike 🚲️

Managing your contributions

Contributions can be edited or ended anytime by navigating to the kid's goal and selecting your contribution.

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