dla-docs

Financial Goals

1. Purpose

The Financial Goals module helps you:

• Set financial goals (e.g., buy house, buy car)
• Plan finances to achieve goals
• Evaluate financial assumptions
• Compare loan scenarios
• Track goal progress

2. When to Use

Use this module when you want to:

• Plan for a major financial goal
• Evaluate borrowing capacity to buy assets
• Compare financial options
• Track savings progress

3. Related Screens

• Create financial goal (3 steps)
• Goal details and plans
• View loan plan
• Evaluate assumptions
• Evaluate assumptions and loan

4. Main Usage

4.1 Create Financial Goal (3 Steps)

Step 1: Enter Financial Plan

1. Go to Functions → Select Planning & Assumptions
2. Tap the ➕ Add New (FAB) button
3. View auto-filled information:
   • Average Income: Auto retrieved from active recurring income (can click to view breakdown)
   • Fixed Expenses: Auto retrieved from active recurring expenses + loan payments (can click to view breakdown)
   • Current Balance: Auto retrieved from current balance
4. Enter Living Expenses: Monthly living expenses (food, transportation, etc.)
5. View auto-calculated forecast:
   • After 12 months
   • After 24 months
   • After 36 months (if keeping current income and expense levels)
6. Tap Continue

Step 2: Enter Goal Information

1. Enter Goal Name: (e.g., “Buy House”)
2. Enter Amount Needed: Total amount needed to achieve goal
3. View Down Payment: Auto-filled from current balance (can edit)
4. Tap Continue

Step 3: Check Goal Achievement Capability

1. View goal information: Name, Goal Value, Down Payment, Remaining Gap
2. View current finances: Average Income, Average Expenses, Average Savings
3. View conclusion:
   • “You will achieve the goal in ~X years” (if savings > 0)
   • “With current situation, you cannot achieve the goal without borrowing or improving finances” (if savings <= 0)
4. View next options:
   • View Loan Option: Evaluate borrowing capacity
   • Create Income/Expense Assumption: Simulate financial improvement
   • Combine Assumption + Loan: Optimal scenario
5. Tap Save Goal (can save now or create plan later)

4.2 View Goal List and Details

1. Go to Functions → Select Planning & Assumptions
2. View list of created goals:
   • Each goal displays: Name, Goal Value, Down Payment Made, Remaining Gap
3. (Optional) Use search bar to find goal by name
4. Tap on a goal to view details:
   • Goal Information: Name, Goal Value, Down Payment, Remaining Gap
   • Financial Plan (baseline): Click to view dialog with average income, expenses, savings
   • Saved Plans List: Loan plans, assumptions, or combinations that have been created

4.3 Create Loan Plan for Goal

1. On goal details screen, tap ➕ Add New button
2. App shows dialog to select plan type, select “Loan”
3. Enter loan information: Loan Amount, Interest Rate, Loan Term, Plan Name
4. View auto-calculated results: Monthly Payment, Total Amount to Pay, Time to Achieve Goal, Affordability
5. Tap Save Plan

4.4 Create Income/Expense Assumption

1. On goal details screen, tap ➕ Add New button
2. App shows dialog to select plan type, select “Assumption”
3. Enter assumptions:
   • Increase Income: Additional amount (or leave blank if no increase)
   • Decrease Expenses: Reduced amount (or leave blank if no decrease)
   • Assumption name
4. View auto-calculated results: New Income, New Expenses, New Savings, New Time to Achieve Goal
5. Tap Save Assumption

4.5 Delete Financial Goal

1. Go to goal details screen
2. Tap Delete button (delete icon) at top right of goal card
3. App shows confirmation dialog
4. Tap Delete to confirm

Note: Deleting goal will delete all related plans and cannot be undone.

5. Examples & UI Illustrations

5.1 PLANNING-01: Create New Financial Goal (Buy House)

Goal: Create a financial goal to plan and simulate the ability to achieve that goal.

Steps:

1. Go to Functions screen, select “Planning & Assumptions”
2. Tap “➕ Add New” button
3. Step 1: Enter financial plan (view auto-filled info, enter living expenses, view forecast)
4. Step 2: Enter goal information (name, amount needed, down payment)
5. Step 3: Check goal achievement capability (view conclusion and options)
6. Tap “Save Goal”

Result: Goal saved, returns to goal list screen.

UI Illustration - Step 1: Enter Financial Plan:

┌─────────────────────────────────────────┐
│  ← Back    Create Goal (1/3)            │
├─────────────────────────────────────────┤
│  Financial Plan                          │
│                                         │
│  Average Income *                        │
│  [$1,200]                               │
│  (Default from recurring items)          │
│  [View Breakdown]                        │
│                                         │
│  Fixed Expenses *                        │
│  [$916]                                 │
│  (Default from recurring items)          │
│  [View Breakdown]                        │
│                                         │
│  Living Expenses *                       │
│  [$200]                                 │
│  (Includes food, transportation,...)     │
│                                         │
│  Current Balance *                       │
│  [$2,000]                               │
│  (Default from current balance)         │
│                                         │
│  Forecast                                │
│  ┌───────────────────────────────────┐ │
│  │ After 12 months: $2,960             │ │
│  │ After 24 months: $3,920             │ │
│  │ After 36 months: $4,880             │ │
│  └───────────────────────────────────┘ │
│                                         │
│  [Continue] [Cancel]                     │
└─────────────────────────────────────────┘

UI Illustration - Step 2: Enter Goal Information:

┌─────────────────────────────────────────┐
│  ← Back    Create Goal (2/3)            │
├─────────────────────────────────────────┤
│  Enter Goal Information                 │
│                                         │
│  Goal Name *                            │
│  [Buy House]                            │
│  (Example: Buy House, Buy Car,...)     │
│                                         │
│  Amount Needed *                         │
│  [$80,000]                              │
│  (Total amount needed to achieve goal)   │
│                                         │
│  Down Payment                            │
│  [$2,000]                               │
│  (Default = Current Balance)            │
│                                         │
│  [Continue] [Back]                       │
└─────────────────────────────────────────┘

UI Illustration - Step 3: Check Goal Achievement Capability:

┌─────────────────────────────────────────┐
│  ← Back    Create Goal (3/3)            │
├─────────────────────────────────────────┤
│  Check Goal Achievement Capability      │
│                                         │
│  Goal Information                       │
│  ┌───────────────────────────────────┐ │
│  │ Goal: Buy House                     │ │
│  │ Goal Value: $80,000                 │ │
│  │ Down Payment: $2,000                │ │
│  │ Remaining Gap: $78,000              │ │
│  └───────────────────────────────────┘ │
│                                         │
│  Your Current Finances                  │
│  ┌───────────────────────────────────┐ │
│  │ Average Income: $1,200              │ │
│  │ Average Expenses: $1,116             │ │
│  │ Average Savings: $84                 │ │
│  └───────────────────────────────────┘ │
│                                         │
│  If keeping current situation           │
│  Monthly savings: $84                   │
│  You will need approximately: ~77 years │
│                                         │
│  Conclusion                              │
│  With current situation, you cannot     │
│  achieve the goal without borrowing or  │
│  improving finances                     │
│                                         │
│  What would you like to do next?         │
│  ┌───────────────────────────────────┐ │
│  │ View Loan Option ›                 │ │
│  │ (If you want to see if loan helps...)│ │
│  └───────────────────────────────────┘ │
│  ┌───────────────────────────────────┐ │
│  │ Create Income/Expense Assumption ›│ │
│  │ (If you want to try improving...) │ │
│  └───────────────────────────────────┘ │
│                                         │
│  [Save Goal] [Back]                     │
└─────────────────────────────────────────┘

---

5.2 PLANNING-02: View Goal List and Details

Goal: View list of created goals and view details of each goal with saved plans.

Steps:

1. Go to Functions screen, select “Planning & Assumptions”
2. View list of created goals
3. (Optional) Use search bar to find goal by name
4. Tap on a goal to view details
5. View goal information, financial plan (baseline), and saved plans list

Result: Displays full goal information and saved plans.

UI Illustration - Goal List:

┌─────────────────────────────────────────┐
│  ← Back    Planning & Assumptions       │
├─────────────────────────────────────────┤
│  [🔍 Search by goal name]               │
│                                         │
│  ┌───────────────────────────────────┐ │
│  │ Buy House                           │ │
│  │ 🎯 Goal Value: $80,000             │ │
│  │ 💰 Down Payment: $2,000             │ │
│  │ ⚠️ Remaining Gap: $78,000           │ │
│  └───────────────────────────────────┘ │
│                                         │
│  ┌───────────────────────────────────┐ │
│  │ Buy Car                             │ │
│  │ 🎯 Goal Value: $20,000              │ │
│  │ 💰 Down Payment: $800               │ │
│  │ ⚠️ Remaining Gap: $19,200           │ │
│  └───────────────────────────────────┘ │
│                                         │
│  [➕ Add New]                           │
└─────────────────────────────────────────┘

UI Illustration - Goal Details:

┌─────────────────────────────────────────┐
│  ← Back    Goal: Buy House              │
├─────────────────────────────────────────┤
│  Goal Information                       │
│  ┌───────────────────────────────────┐ │
│  │ 🎯 Goal Value: $80,000              │ │
│  │ 💰 Down Payment: $2,000             │ │
│  │ ⚠️ Remaining Gap: $78,000           │ │
│  │                                    │ │
│  │ [🗑️ Delete]                         │ │
│  └───────────────────────────────────┘ │
│                                         │
│  [📊 View Financial Plan (baseline)]     │
│                                         │
│  Saved Plans List                       │
│  ┌───────────────────────────────────┐ │
│  │ Loan 80% of house value            │ │
│  │ Loan: $60,000                      │ │
│  │ Interest Rate: 8%/year             │ │
│  │ Term: 20 years                     │ │
│  │ [View Details]                     │ │
│  └───────────────────────────────────┘ │
│  ┌───────────────────────────────────┐ │
│  │ Increase Income + Decrease Expenses│ │
│  │ New Income: $1,400                  │ │
│  │ New Expenses: $1,076                │ │
│  │ New Savings: $324                   │ │
│  │ [View Details]                     │ │
│  └───────────────────────────────────┘ │
│                                         │
│  [➕ Add New]                           │
└─────────────────────────────────────────┘

---

5.3 PLANNING-03: Create Loan Plan for Goal

Goal: Create a loan plan to see if borrowing helps shorten time to achieve goal and affordability.

Steps:

1. On goal details screen, tap “➕ Add New” button
2. Select “Loan” in dialog
3. Enter loan information: Loan Amount, Interest Rate, Loan Term, Plan Name
4. View auto-calculated results
5. Tap “Save Plan”

Result: Loan plan saved and appears in plans list.

UI Illustration: Create loan plan screen (details in related screens).

---

5.4 PLANNING-04: Create Income/Expense Assumption to Improve Goal Achievement Capability

Goal: Create assumption about increasing income or decreasing expenses to see if this helps achieve goal faster.

Steps:

1. On goal details screen, tap “➕ Add New” button
2. Select “Assumption” in dialog
3. Enter assumptions: Increase Income (if any), Decrease Expenses (if any), Assumption Name
4. View auto-calculated results
5. Tap “Save Assumption”

Result: Assumption saved and appears in plans list.

UI Illustration: Create assumption screen (details in related screens).

---

5.5 PLANNING-05: Delete Financial Goal

Goal: Delete a financial goal when no longer needed.

Steps:

1. Go to goal details screen
2. Tap “Delete” button (delete icon)
3. Confirm deletion in dialog

Result: Goal and all related plans have been deleted.

UI Illustration: Confirm delete goal dialog.

6. Logic & Rules

6.1 Forecast Calculation

• Forecast based on:
  • Income - Fixed Expenses - Living Expenses = Savings/month
  • Current Balance + (Savings/month × Number of months)

6.2 Goals

• Remaining Gap = Amount Needed - Down Payment
• Estimated Time = Remaining Gap / Average Savings (months)
• If average savings <= 0: Cannot achieve goal without borrowing or improving finances

6.3 Loan Plans

• Calculation based on:
  • Loan amount
  • Interest rate
  • Term
  • Auto create payment schedule

6.4 Financial Assumptions

• Evaluate assumptions such as:
  • Increase/decrease income
  • Increase/decrease expenses
  • Change interest rate
• View impact on goal achievement capability

7. Important Notes

• Premium Module Required: This feature is only for Premium users
• Forecast is for reference only: Based on assumption of stable income and expenses
• Can create multiple plans: You can create multiple plans (loan, assumption, combination) to compare
• Baseline is saved: Initial financial plan (baseline) is saved when creating goal, used to compare with later plans
• Auto Calculation: Income and fixed expenses automatically retrieved from active recurring items, including bank loan payments
• Delete Goal: When deleting goal, all related plans are also deleted and cannot be restored