How to Automate Your Savings in Koho 💸

When it comes to saving up for that new bike, or even a trip to Japan, Koho’s got your back with our automated Goals feature. Since launching across Canada, we’ve seen over 30% of our users who created a goal complete their goal within 23 days and the (average goal amount saved was $550)!

Setting up a goal isn’t just about helping you plan for your future – it’s about making smarter spending habits so you can enjoy the present. No more restrictions or feeling guilty about skipping out on a night out with friends.

Learn more about how you can set up a goal with Koho in our latest video below:

Here are a few key terms you’ll notice on your Koho account:

Total Balance: The real money that you have put into your Koho account.

Spendable: The effective amount that is safe to spend on your Koho card or transfer funds from your Koho account to friends or family.

The total amount that Koho will put aside from your Spendable towards your savings goals.

So basically: Total Balance – Goals = Spendable

Setting up a Koho Goal

Creating a savings goal is quick and easy.

Step 1: Go to the Goals screen and click on “SET UP A GOAL NOW”

Step 2: Give your Goal a name and enter the Total Amount of the Goal.

Next, you only have to complete one of the following options:

Complete By: Enter a date for when you want to achieve your goal. If your goal is time-sensitive, e.g. you need to book an entire trip for your friend’s wedding by July 31st, Koho will figure out the daily Contribution Amount towards your new Koho Goal.


Contribution Amount: Enter a Contribution Amount if your goal revolves around a specific daily amount that you know you can afford to contribute, e.g. you’d like to specifically put $50 into your goal per day, Koho will figure out the exact date in which you will complete your savings goal.

Step 3: Click “START MY GOAL” and you’re all set! After the your goal is set, you can always modify it, delete it, or set it to complete.

Once you have completed a savings goal, the savings amount moves over from your Goals into your Spendable.


With the help of Goals, our customers have decreased their spending habits by the following amounts:

– Retail – 48%
– Transportation – 39%
– Eating and Drinking – 36%
– Household – 25%
– Entertainment – 18%
– Groceries – 13%

When it comes to what sort of goals people are saving up for, here’s what we found:

– Travel (Europe, Japan, Italy, Paris are the top travel destinations)
– Savings (IOUs, Emergency, Rent, Debt, Investment)
– Gifts (A new bicycle, tattoo, Apple Watch, Telsa, a new computer)
– Events (Wedding, Summer Grad, Christmas)

Whether your goals are big or small, all it takes is adjusting your daily spend – and with a little help from Koho, you’ll reach your goal in no time.

So there you have it. With Koho, you can have your cake and eat it too.


About the Author

Lynn Shinto


Community Manager