Goal Tracking with a Dedicated Account

The Most Accurate Way to Track Goals

Linking a goal to a dedicated savings account is the recommended tracking method. Your goal progress updates automatically based on the account balance — because the bank balance is the goal balance.

Why Dedicated Account Tracking Works Best

No manual updates needed — the balance syncs automatically
Accurate by definition — the money in the account is the money saved toward the goal
No categorisation required — you don't need to tag specific transactions
Handles deposits and withdrawals — the balance always reflects the true state of your savings

How to Set It Up

1. Open a Dedicated Account (If Needed)

Many Canadian banks let you open additional savings accounts at no cost. Consider opening one specifically for your goal — for example, a "Vacation Fund" savings account.

2. Connect or Add the Account in NivoaFlow

Connect the account via Plaid (Personal+ tier) or add it as a manual account (all tiers).

3. Create Your Goal

Go to Plan > Goals and click Create Goal
Enter a name, target amount, and optional target date
Pick a type — sinking fund (planned spending) or target by date (long-term goal)
Under "How will you track this?", choose Link to account
Select the dedicated savings account from the dropdown
Choose a Balance Tracking option:
- Entire Balance — the full account balance counts as goal progress
- Percentage — track a percentage of the balance (handy when one account covers multiple goals)
- Fixed Cap — track up to a set amount of the balance (e.g. $10,000 of a $50,000 TFSA)
Click Save Goal

Only chequing, savings, and line-of-credit accounts can be linked. Other account types appear greyed out in the dropdown.

4. Watch It Track Automatically

Every time you deposit money into that account, your goal progress updates. Withdrawals reduce progress. The goal row shows your current balance, target amount, percentage complete, and an "Auto-tracked" badge.

Using a Portion of an Account

If you use one savings account for multiple goals, two options let you split the balance:

Percentage — track 50% of a shared savings account toward an emergency fund goal
Fixed Cap — track up to $20,000 of a $50,000 TFSA toward a down payment goal, leaving the rest for other purposes

Tips

One account per goal is the cleanest approach — it eliminates ambiguity
High-interest savings accounts are ideal for goal accounts, since your money grows while you save
Avoid spending from goal accounts — withdrawals reduce your progress and can be confusing in reports
Manually adding funds has no effect on an account-linked goal — the linked balance is the single source of truth
For Free tier users, add the account manually and update the balance periodically for the same effect