Creating a Stash: Expenses, Goals, and Funds

Imagine back in the day - when you would receive your paycheck in cash. You would take your wad of cash, divide it up, and start stuffing different amounts into several envelopes - Labelled “mortgage”, “groceries”, “car payment”, etc etc. If there was anything left, maybe you’d set aside some spending money for you and your partner as well.

Budgeting with Halfsies simply brings this method into the digital age.

Halfsies allows you to take your digital bank account balance and start stuffing that money into virtual envelopes. Or as we like to call them - stashes. 

Stashes are a container you can set aside money into for anything you would like. Rent, Christmas, Emergency Funds, you name it. And unlike a physical envelope, they have a bit more automation to them depending on what kind of stash you choose.

Stash Types Explained

Expense Stashes are for regularly recurring items (such as rent, utilities, subscriptions, etc.) Using your recurring transactions, these stashes are capable of “set-it-and-forget-it” features like auto-funding and auto-spending. IE, they fill up throughout the month, and can recognize and cover recurring transactions each time they appear in your Activity section. These stashes are ideal for those who prefer a granular budgeting style, such as zero-based.

Goal Stashes are for non-recurring items with an end goal in mind (such as holidays, vacations, buying a gaming console, etc). If you set a due date, you can auto-fund these stashes just like expenses, but there is no auto-spending. These stashes are ideal for tracking your progress.

Fund Stashes are no-fuss stashes for items with no specific due date or target amount in mind (such as emergency funds, groceries, car repairs, etc). Auto-funding is available, but auto-spending is not. Since they can be applied to several transactions at once, these are a great option for users who prefer a less granular approach to budgeting, such as the 50/30/20 rule.

Create a Stash Method #1: Expense Generation

There are multiple places throughout Halfsies where you might be prompted to generate your expenses if recurring transactions have been found. This includes:

1. During onboarding
2. When selecting “add an expense”
3. When selecting the + floating action button on your budgeting section
4. Selecting “Generate budget” under your budget tab’s “read more” menu

Generation is a quick and easy way to generate expense stashes based on your recurring transactions.

You will be taken to a screen displaying all of your transactions that have been flagged as recurring. Simply let us know which items you would like to budget for, set a funding schedule for them, and we will use your transaction details to fill in the rest!

Do note that this feature is only available for creating expense stashes. However, 

Create a Stash Method #2: By Type

Under your budgeting tab, you might notice beneath each section is a prompt to “add an expense”, “add a goal”, or “add a fund”. If you know the stash type you would like to create, simply tap one of these buttons to get started

Once your Create a Stash screen is open, you can switch between stash types. Selecting any of the types mentioned above will present you with a pre-selected form that will help you create the type of stash you'd like.

But what if you aren't sure what kind of stash you need? Or what if you'd like to see the full unedited suite of stash options? Then go ahead and select "Custom (sort it for me)". This will present you with the entire create a stash form with every available setting. Just fill in the fields you would like to include, and we'll sort it for you once you're finished!