You might know how to save money but it's just as important to have a why. Your why is what motivates you and gets you excited about saving so that it feels like fun, not a chore.
Chime Savings Goals is in your corner, helping you turn small habits into big results. What do you want to do with your money? Do you want to get enough savings to be one month ahead on bills? Grow your emergency fund? Save up for a down payment on a home? Wherever it is you want your money to take you, Savings Goals can help get you there.
How to set up savings goals in the Chime app
Within the Savings Account screen, you can now create your own savings goals in just a few taps! Here's how it works.
Create a savings goal. To get started, tap Savings Account on the app's home screen. Tap Set your goal to create your first goal – all you have to do is name it (and add a cute emoji to make it stand out!)
Set your savings target. Next, you have the option to decide how much you want to save. Maybe that means $1,000 for rainy days or $20,000 for a new car. Remember, no goal is too big or too small with Chime. Setting a savings target is optional. Chime allows you to set money aside for your goal whenever you have some extra to spare.
Add money to your goal. Once you've got a savings target in mind, the next step is funding it. Just move funds from Savings Account to a specific goal, or through the Move tab in the app.You can set up just one goal or several and see each one from the savings account screen in the Chime app. Completed goals stay visible, so you always have a reminder of what you're capable of achieving and how far you've come.
Can you earn interest with the money in your Savings Goals?
Yes! Chime members earn 0.75% Annual Percentage Yield ("APY")1 on the money in their goals.
Becoming a Chime Plus member by receiving a qualifying direct deposit2 unlocks 2.75% APY1 on all the funds in your goals.
Other features of Savings Goals
We designed Savings Goals to make the process of saving easy, empowering, and intuitive.
Track your progress: as you continue adding funds to your goal, you'll see the progress bar move a little closer to the finish line to visualize your momentum.
Celebrate your achievement: When you reach your goal, you'll see a celebratory message in the app to cap off your goal! Your completed goals will stay visible in the app so you can always be reminded that you can reach your goals.
Set multiple goals: You have big dreams. You can set up multiple goals and contribute to each one as you can.
Start saving for a better future
The Savings Goals feature helps you prioritize which goal (or goals) you should work on and create a realistic plan for saving each payday.
Ready to set up your first savings goal? All you need is a Chime Checking Account, Chime high-yield savings account3 and the Chime app to get the ball rolling.