How do Contributions work?

Contributions are automated, recurring transactions toward a kid’s savings goal that are funded by adults within your Till family, including family account owners, admins, and community members. 

Begin by selecting the kid and choosing which goal to contribute to and just tap on the goal. Then tap “Create a Contribution” and decide which of the three contribution types to create.

Weekly contributions are fixed-amount, weekly transfers toward a goal. Select the amount and the day of the week to contribute. 

Here’s an example:

Wanda will contribute $10 every Saturday to Tommy’s $300 goal, “New bike 🚲”!

Matching contributions are intended to encourage the kid to actively contribute to their savings goals and occur every time they do so. So every time a kid adds funds to their goal, your contribution will match them at a percentage that you specify. In other words, kids are monetarily reinforced every time they work toward their goals. Select the percentage of a kid’s contribution you want to match. You can also set a maximum single and/or total amount to safeguard against spending more than you’re comfortable with.

 Here’s an example: 

Every time Tommy adds money to his $300 goal, “New bike 🚲”, Uncle Tony will match that amount at 20%!

Interest contributions occur on the last day of each month and the amount is determined by a percentage, specified by the contributor, of the balance of a goal on the day the contribution is triggered. Select the interest percentage of the goal and a maximum single and/or total amount to safeguard against spending more than you’re comfortable with. 

 Here’s an example:

On the last day of every month, Agatha will contribute 10% of the balance of Tommy’s $300 goal “New bike 🚲”.

 Contributions can be edited or ended at any time, all you have to do is navigate to a kid’s goal, select your contribution and tap the pencil icon at the top right corner of the screen. From there you can change the details of the contribution or tap End Contribution to discontinue the scheduled transactions.