Understanding Financial Goals, Round-Up and Recurring Transfers

Overview

Financial Goal - Fuego's Financial Goal Account feature is an incredible tool for Fuego Visa® Cardholders that enables you to strategically plan your finances, empowering you to achieve your most important financial goals while spending and saving responsibly. Whether you're saving up for a future purchase or striving to reach a personal milestone, this innovative feature makes financial planning simpler and more effective than ever before. This article will also outline the steps needed to create a financial goal within the Fuego app.

Round Up - Fuego's Round Up feature takes the guesswork out of saving by automatically making deposits into your Financial Goal Account each time you make a purchase with your Fuego Card. Choose to round up your purchases to the nearest dollar and send the remaining change to your financial goal. The following article outlines the benefits of using the Round Up feature and provides the steps needed to set this up

Recurring Transfers - Fuego's Recurring Transfer option allows you to plan to put money into your Financial Goal on days that work best for you. You can set this up to be monthly, weekly, bi-weekly and have flexibility over whether you want to have a set amount transfer or a % of your pay. You can even Pause a Transfer as needed. 

How to Set up your Financial Goal

Step 1. Once logged into the Fuego app, navigate to the Finances tab from the navigation at the bottom of the screen. On this screen, you will see the option to Set Goal, under the Financial Goal section. 

Step 2. Follow the flow to set up your first financial goal.. Enter details of your goal name, amount and target date.  Use the camera icon to add an image for your goal. 

Step 3. Click complete when you have added all of your goal details. You will now be directed back to the main screen of the finance tab, where you will see your goals posted under the financial goal section, along with it's progress.

Turning On Round Up

To turn on round up for your goal, click into your goal and select the settings cog from the upper right corner. Next, toggle the round up Fuego transactions feature on. This is also where you can disable round up, if you change your mind later. 

Setting Up a Recurring Transfer

To set up a recurring transfer to your goal pot, click into your goal and select the settings cog from the upper right corner. Next, toggle the recurring transfer feature on. On the next page you can modify the transfer amount and settings. When you are happy with your settings, click set auto transfers & finish to save your changes. 

$ Amount Transfer- If you select the '$ Amount' transfer type, you will be prompted to enter the dollar amount you would like to transfer as well as the frequency (i.e. Bi-Weekly or Weekly) and the occurrence date (i.e. 15th of the month or last day of the month). 

% of Pay - If you select the '% of Pay' transfer type, you have the option to specify a percentage of your paycheck to be deposited into your savings goal. 

Financial Goal Key Benefits:

• Improved financial habits - Consistently savings for your goals helps to develop positive financial habits, such as budgeting, living within your means, and avoiding unnecessary debt. 
• Financial security - Saving for your goals helps you to build financial security and stability, reducing the stress and uncertainty that comes with living paycheck to paycheck.
• Allows you to gain greater control over your life and your financial future, enabling you to make choices that align with your values and priorities. 

Round-Up Key Benefits:

• Allows you to save small amounts at a time every time you make a purchase. While it may not seem like a lot at first, you'll notice that the more you use your Fuego Card, the faster you'll reach your financial goal.
• Round ups take the stress out of saving since you are not having to manually put money aside for your savings goals.
• Great strategy for anyone that is new to saving or has difficulty saving for their financial goals.

If you have any questions about any of the items related to your savings goal, please reach out to us in the 'Help Center' in the Fuego app or call us on 1-855-715-8518.

The Fuego Visa Card is issued by Central Bank of Kansas City, Member FDIC, pursuant to a license from Visa U.S.A., Inc. and may be used everywhere Visa debit cards are accepted. Certain fees, terms, and conditions are associated with the approval, maintenance, and use of the Card. You should consult your Cardholder Agreement and the Fee Schedule at www.getfuego.com/legal. If you have any questions regarding the Card or such fees, terms, and conditions, you can contact us toll-free 24/7/365 at 1-855-715-8518.