How does this work?

Started by Shantreneika H.
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Deleted user

Hi @Shantreneika - my experience with SaverLife has been great. The articles are always updating unlike some other sites. And the savings challenges encourage you to save

D

De Laine R.

How does SaverLife know when I’ve met my monthly goal?

Deleted user

How does SaverLife know when I’ve met my monthly goal?

Your dashboard amount should be updated when you reach it!

K

Kristen O.

@De Laine R: How does SaverLife know when I've met my monthly goal?

You link one of your bank accounts (preferably the account you put the most savings towards) to SaverLife. By doing so, you give SaverLife permission to have a bot read debits/credits but NOT permission to make transactions.

The account that is linked will have a "beginning balance" for the month, and SaverLife will determine if an amount was saved if the "ending balance" is higher than what the beginning was.

If you move a saved amount from the linked account to a different savings account, that amount will not apply to the savings because SaverLife does not get that information to determine what is a transfer and what is a purchase.

@Ashley G: SaverLife is not a bank. If you are trying to move money to your SaverLife account, this is not possible.
The Dashboard updates periodically (I think some users know the time frame, but I do not) based on your linked account's balance when first linked and whether you have an amount over that. If you have less than the balance at linking, then it simply stays at 0 instead of showing a negative amount.

Does this help?

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