Switch - Shockingly simple group payments Switch - Shockingly simple group payments

Campus Internship

How to Achieve Your Shared Savings Goals: A Guide to Financial Planning and Money Management

August 7, 2023

Image: A group of diverse individuals standing together, symbolizing collaboration and teamwork. They are surrounded by a circle with the text 'Shared Savings Goals' written in bold letters. This image represents the collective efforts and aspirations of a team working towards common financial objectives.

How to Achieve Your Shared Savings Goals

Are you and your friends or family members trying to save up for a big goal together? Whether it's a vacation, a down payment on a house, or a special event, shared savings goals can be a great way to work towards something together. However, managing and tracking everyone's contributions can be challenging. That's where Switch comes in.

Switch is a mobile payment platform that makes it easy to request, collect, and manage money in groups. With its intuitive design and features, Switch can help you and your group stay organized and accountable as you work towards your shared savings goals.

In this blog post, we will walk you through the steps to achieve your shared savings goals using Switch. We'll provide practical tips and strategies to help you manage your money, budget effectively, and make progress towards your financial goals.

How To: Set Up Your Shared Savings Goal

Setting up your shared savings goal on Switch is quick and simple. Just follow these steps:

1. Create a Pitch

Start by creating a pitch on Switch for your shared savings goal. Give it a name that reflects your goal and invite your group members to join. This will create a unique bank account and virtual debit cards for your pitch, making it easy to track contributions and expenses.

2. Set a Goal Amount

Determine the amount of money you need to reach your savings goal. Discuss with your group members and agree on a target amount. This will help everyone stay motivated and focused on the goal.

3. Assign Contribution Amounts

Decide how much each group member will contribute towards the goal. You can either assign equal amounts to everyone or set different contribution amounts based on individual financial capabilities.

4. Track Contributions

As group members make contributions, make sure to track them on Switch. The platform provides transparent and real-time visibility into who has paid and who hasn't, ensuring everyone stays accountable.

5. Communicate and Motivate

Regularly communicate with your group members through Switch's chat function. Share progress updates, encourage each other, and discuss any challenges or adjustments that need to be made.

6. Celebrate Milestones

When you reach certain milestones along the way, take the time to celebrate together. It's important to acknowledge and reward the hard work and progress you've made towards your shared savings goal.

7. Withdraw and Enjoy

Once you've reached your savings goal, use Switch to easily withdraw the funds and enjoy the fruits of your collective efforts. Whether it's booking that dream vacation or making a significant purchase, the choice is yours.

Shared Savings Goal Success with Switch

By using Switch for your shared savings goals, you can streamline the process and eliminate the stress and hassle of managing money in groups. With features like real-time tracking, transparent visibility, and easy communication, Switch empowers you and your group to achieve your financial goals together.

Achieve Your Shared Savings Goals with Ease

  • Effectively track and manage contributions from group members
  • Stay motivated and accountable with real-time visibility
  • Communicate and collaborate effortlessly with Switch's chat function
  • Celebrate milestones and enjoy the rewards of your collective efforts

Start using Switch today and take the stress out of shared savings goals. Let Switch be your trusted companion as you work towards a brighter financial future.

Get the App

Get started in


Switch is a financial technology company and is not a bank. Banking services provided by Thread Bank; Member FDIC. The Switch Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa debit cards are accepted.

© 2023 Grink Inc.