Track savings goals across EUR, GBP, CHF, and other currencies. See your real progress toward financial targets when your savings span multiple accounts and currencies.
Once you sign up, your accounts, income, expenses, and goals update these numbers automatically.
Progress across currencies is only meaningful once every balance is expressed in the target's currency. Add unconverted sums and the total is arithmetic without meaning; worse, the resulting progress bar moves on days when you saved nothing. Convert each account at a published reference rate, then divide by the target. The discipline that follows is separating two very different things in your monthly review: money you actually put aside, and movement that came from the currency market. Only the first is a decision you made, and only the first should influence whether you feel ahead or behind. Re-convert at every review rather than treating an old rate as current.
Sources: ECB euro reference exchange rates
Set the goal in the currency of the thing you are buying. A house deposit in Spain is a euro goal, a tuition bill in the United Kingdom is a sterling goal, and a sabbatical spent across several countries is best held in whichever currency dominates the spending. Holding the target currency removes exchange-rate risk from the plan entirely, which is worth more than the marginal interest you might earn elsewhere. Where you must save in a different currency for a while, transfer on a schedule so you average across rates, and shift decisively into the target currency once you are within about a year of needing the money.
Sources: ECB euro reference exchange rates
Interest rates differ across currencies, and it is tempting to chase the highest. Be careful: a rate advantage of one or two points is easily erased by a currency move of several, and by the spread you pay to get in and out. Prioritise protection and clarity instead. Deposits at EU banks are covered up to €100,000 per depositor per institution, so a large buffer may warrant more than one bank. Investment accounts fall under a different regime with its own limits, which is worth understanding before assuming everything is equally protected. Above all, keep the account list short — six currencies across nine institutions is a reconciliation problem, not a strategy.
Sources: EU deposit guarantee schemes (2014/49/EU), ESMA — investor protection
Progress % = (Converted savings ÷ Target) × 100
Every account is converted into the target's currency before progress is computed. This is the only way the percentage means anything: a balance that has not changed can appear to grow or shrink purely on the exchange rate, and a progress bar built on unconverted sums will show gains nobody made.
Ruben is saving €60,000. He holds €22,000 in Spain, £11,000 in London and CHF 6,000 in Geneva. Converted, that is roughly €22,000 + €12,900 + €6,400 = €41,300, or 69% of target. If sterling gains 5%, the same balances read €41,950 — progress of €650 that came entirely from the currency market.
Separate real saving from currency movement when you review progress. Only one of the two is a decision you made.
Consolidate into the target currency as the date approaches. Diversification helps a long horizon and hurts a short one.
Hedge only when the goal is large, dated and in a currency you do not earn. For open-ended saving, simply holding the target currency is cheaper than any hedge.
Compare conversion providers before large transfers. On €20,000, the difference between 0.4% and 1.5% is €220.
Keep the account list short. Six currencies across nine accounts is a reconciliation problem, not a strategy.
This converts once, at today's rate. Wealthos re-converts every account continuously, so you can separate what you actually saved from what the exchange rate did.
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If the goal is a wedding, the savings number is just one part. Use our free interactive Wedding Budget Planner to break down every cost — venue, catering, rings, attire — and see exactly how much to save each month.
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