What are savings goals and how do I create one?

Whether you’re saving for a holiday, a new home or simply a rainy day, setting a goal can help you reach your target faster.

You can set up a savings goal on an existing or new Everyday Saver, Instant Cash ISA or Blue Rewards Saver account in the Barclays app. Just select the ‘Create a savings goal’ banner on the account screen to get started. You can set up one goal for each sole savings account you have.

The six-step journey will allow you to

  • Choose a category
  • Name your goal
  • Choose a target amount
  • Set an optional target date
  • Review how much you’d need to save per day/week/month to achieve your goal on time
  • Set up a regular payment into the account if you want to

You’ll then be able to track your progress towards your goal via a personalised goal tracker, and edit or delete the goal as you go along. The whole balance of your savings account will contribute to your goal.

Before you consider either saving or investing, it's important to think about whether you're ready. Look at any outstanding debts you may have, and think about whether it would be better to repay them first.