Save for costs that come back every year or few years
A set-aside puts a little away each month for a cost that comes back — the RO filter every 3 years, the AC service every year, an insurance premium. Savingy works out the monthly amount and reminds you a week before it is due.
Why use it
Costs that come round once every year or three are easy to forget until they arrive all at once. Spread across the months in between, they stop being a shock.
How to do it
From an expense: in Add Record, when you log a cost such as "RO filter" or "AC service", or an item that costs much more than you plan for it each month, a line asks whether it comes back. Tick "Save for the next …", choose how often it comes back, and save the expense.
From Bills: open Goals & bills › "Bills", select "Add a bill", type the name and amount, and under "How often" choose "Every year", "Every 2 years", "Every 3 years" or another interval. Check "Next due" and select "Save for it".
From Set-asides: open Goals & bills › "Set-asides", pick a starting point (water purifier filter, AC service, vehicle service, festival clothes and more), change the amount to yours, and save.
What happens next: The set-aside appears on the Set-asides tab with its amount, how often it comes back, when it is next due and how much to put away each month, for example "₹170 a month".
The monthly amount
Savingy divides what is still to be saved by the months left until it is due, rounded up to the next ₹10. A ₹6,000 filter due in 3 years is about ₹170 a month.
Reminders
- A week before it is due, and on the day, Savingy sends one email — and a notification on your phone if you use the Savingy app.
- Several set-asides due at the same time come in one message.
- They are on by default. Turn them off in Profile with "Set-aside due reminders", or with the link at the bottom of the email.
When you pay it
Log the cost in Add Record and tick "Pay from your … fund". The set-aside starts its next cycle from that day, and anything left over stays in it.
Already saving for it?
Add Record does not offer a second set-aside for a cost you already save for. The Bills form tells you when one exists and still lets you add another, for example for a second water purifier.
If something goes wrong
Add Record did not ask whether the cost comes back.
It asks for costs it recognises by name, and for items costing ₹1,000 or more that are well above what your plan sets aside for them each month. Start one from the Set-asides tab instead.
"Enter what it costs, more than zero."
A set-aside needs the amount it will cost next time. Type it in the Amount field.
I did not get a reminder.
Check "Set-aside due reminders" is on in Profile. Reminders go out between 9 am and 9 pm, a week before and on the day.