We added a new feature to our Rules Engine. This feature makes money automation one step simpler, and our Rules Engine more complete. It gives you the possibility to limit your actions up to a certain amount.
When your salary comes in:
- Send 20% to savings, with a max of €200
- Forward everything over €100, with a max of €300
- Fill up buffer to - with a max of €150
An example: your health insurance deductible
Think about this: your deductible for your health insurance is €385 or more. It’s nice to set this apart for whenever necessary. If it’s empty now - you would want to fill that savings jar, but maybe the full €385 is a bit of a financial stretch in one go. So, you do it like this:
- When salary comes in
- Fill up Health Insurance Deductible Buffer to €385
- With a maximum of €50 per transaction.
What will happen?
Each time your salary comes in, it will fill your Health Insurance Deductible Buffer up to €385, with a maximum of €50 each time. It will sent the €50, till the buffer is filled up. Then it will stop.
Do you spend some money from this buffer? Then Flow will automatically refill it, the same as before. This way, your Health Insurance Deductible Buffer stays up to date, and you will always have money to pay these costs.
Stock up your savings buffer
Or let’s say you want to build up a savings buffer for emergencies. You’ve calculated you need 10k to feel safe. But obviously, you won’t be able to transfer the full 10k in one go. But you also don’t need more than that, and you want it to be regulated automatically.
Now, you can!
- When Salary comes in
- Fill up Savings Buffer to €10,000
- With a maximum of €350 per transaction
What happens now: each month a max of €350 will be transferred to your savings buffer. When it hits the 10k, it stops. This means you can spend your money elsewhere, or fully invest, for example. It’s up to you.
When you need to pay something from that buffer, it will automatically refill to the 10k again. This way, you do not need to worry about it. It’s all set up according to your wishes.
Stock up other buffers, like Caroline does
Our dear Flow colleague Caroline has a brilliant use of this action. She has a cat and wants to be prepared for any financial surprises when going to the vet. So, she fills the cat's buffer each month when her salary comes in, but of course with a max amount. This way she knows she can afford any surprise, without any worry.
What action would you use it for?