Payleaf is a tool that helps you create financial goals and monitor your savings, so that you can easily contribute enough money on a scheduled basis to reach your goals.
Payleaf is absolutely free to use, and they don’t transfer or touch your money in any way, as they simply provide a platform to monitor how much you’ve saved and how much you’re putting aside for each of your goals.
Plus, when you sign up during the Payleaf Beta Period, you can get a $5 bonus just for linking a savings account with your goal, and you’ll receive an additional $5 bonus if you share your goal with a co-saver, who will also get a $10 bonus for doing the same by linking a savings account and sharing your goal.
Updated 5/1/2018 – $5 Refer A Friend Program Launched: Payleaf has now launched a referral program that provides current users with a $5 bonus for each new user that you refer who joins Payleaf and links a bank account. See more info below.
About Payleaf Financial Goal Savings Tool
Payleaf makes it easy to save for a new car, a vacation, a down payment on a home, college tuition, or anything else that you need money to achieve.
Payleaf helps you manage your savings accounts in order to virtually divide your money into different amounts that are earmarked for specific goals.
You can then share your goals with your family and friends, who can become your co-savers and help contribute money toward achieving your mutual goals.
It’s important to note that Payleaf does not transfer your money out of your savings accounts in any way, and they do not move money between your accounts or do anything at all with your actual account balance.
Payleaf simply provides an online tool for you to create financial goals and manage how you save your money toward these goals.
Even when you share goals with co-savers, Payleaf does not actually transfer any money between either of your accounts, as it’s totally up to you to fulfill any transfers and use the money that you save toward your goals.
Payleaf is absolutely free to use, but they are currently in Public Beta Mode, so while anybody can sign up and create a free Payleaf account in order to manage your goal savings, they are still working to add new features.
The Payleaf interface is very simple and easy to use at this time, which makes it quick to create your goals and manage your savings for those goals, but not every feature that is indicated on their website is fully functional at this time.
However, since they’re preparing to launch, Payleaf is extremely accessible in response to any issues that you may have and for providing feedback, and they are really working hard to provide a good user experience and have been a lot of help with answering all of my questions.
How To Earn $10 Payleaf Bonus
If you sign up during the Payleaf Beta, you can get a $5 cash bonus for creating a goal and linking a savings account to that goal, and an additional $5 cash bonus for sharing that goal with a co-saver, plus the co-saver will also receive a $10 bonus for doing the same.
1. You’ll get a $5 bonus for signing up for a free Payleaf Account and linking a savings account to start funding a goal.
2. You’ll get another $5 bonus for sharing the goal that you are funding from your linked savings account with another co-saver.
3. The co-saver that you share your goal with will also receive a $10 bonus for doing the same (linking a savings account and sharing the same goal with you).
4. So you create 1 goal, and 2 people share that goal to receive a $10 bonus each.
The bonuses are separate from each other, so you can get $5 if you just link a savings account to your goal, and you can get another $5 if you share your goal with a co-saver, but you’re not required to do both in order to get the initial $5 bonus.
The bonuses that you receive will be paid out as a direct deposit to your linked savings account from what I’ve been told.
Anybody can sign up for a free Payleaf account to participate in these promotional offers.
The promotions are not displayed on their website directly, but I’ve been informed that they will be available throughout the Beta period, so it’s a nice incentive to give their service a try.
How Payleaf Works
1. Sign up for a free Payleaf account on Payleaf.com to get started.
2. Create your first financial Goal by choosing how much money you need to save and the date by which you need to save it.
3. Link a savings account from almost any bank to your Payleaf account (you can only link savings accounts, not checking accounts).
4. Fund your Goal with your linked savings account (you must click the “Select this Bank” button to turn the Status to Active).
5. Payleaf will tell you how much money you must contribute to your savings account on a recurring basis in order to reach your financial Goals.
6. It is completely up to you to transfer the set amount of money into your savings account according to schedule, so that you reach your financial Goals within the time frame that you select for each Goal.
7. If you choose, you can share your Goals with co-savers, so that you can both make contributions toward the same Goals.
8. Once you reach your Goal, you simply use the money that you’ve saved to fulfill that Goal, but you are under no obligations and can use your money however you like.
Creating and Fulfilling Payleaf Goals
You are in full control over how much money you would like to apply toward your Goal and how often you would like to make contributions, whether it be on a weekly, bi-weekly, or monthly basis.
Payleaf calculates how much money you’ll to need to save on a recurring basis, based on your Goal amount and the time frame in which you want to achieve your Goal.
It’s your job to keep putting money into your savings account to meet your recurring contribution requirements in order to achieve your goal.
Payleaf does not transfer any money at all, as they are simply the tool by which you monitor how much you’ve saved and how much you’re putting aside for each Goal.
If your bank has automatic deposits, you can set up recurring transfers from your checking account to your savings account to match the needed contribution schedule in order to reach your Goal.
Otherwise, it’s completely up to you to decide how you want to make contributions to your savings account in order to keep up with the deposit schedule for your Goal.
You’re able to exclude certain portions of your savings account balance from your Goal, so that you have a select amount of money in your savings account that is specifically earmarked for your Goal.
Share Payleaf Goals with Co-Savers
Once you fund your Goal with your linked savings account, you can share that Goal with your friends and family, so that they can help you save toward that Goal.
You simply click the “Share this Goal” button (only shows once your Goal is Active), and you can add email addresses to share your Goal with co-savers.
If your co-saver does not already have a Payleaf account, they will be asked to sign up for a Payleaf account when you share your Goal with them.
The new co-saver must then create a Payleaf account, link a savings account, and connect with your Goal in order to start contributing.
You must make sure that you state the amount they will contribute and on what cycle period it will be before you share the goal.
When the goal is achieved, your co-saver can send you the full amount in the form of a check or a deposit or in whatever other way you two agree to exchange the money.
Payleaf $5 Refer A Friend Bonus Program – Launched 4/27/2018
The Payleaf Referral Program will give you an extra $5 bonus for every referral that you make to Payleaf.
Just visit the “Refer A Friend $5” option under the “Earn” tab in your account, where you can share Payleaf with your friends via email, social media, or your unique referral link.
When your referrals join Payleaf and link a bank account, Payleaf will deposit $5 into your Payleaf bank account.
You can refer as many people as you like and earn an unlimited amount of referral bonuses.
Although the Payleaf referral promotion only provides the referrer with a bonus, the referee or new customer can still qualify for up to $10 in bonuses when they link a savings account to start funding a goal and share that goal with a co-saver.
You can use the Payleaf Refer A Friend Program to help achieve your savings goals faster with an extra $5 bonus for each new Payleaf user that you refer.
If you need help managing your savings account balances to virtually set aside funds toward reaching different goals, sign up for a free Payleaf account to easily achieve your financial goals.
You may also wish to try this $5 WinWin Savings App Bonus for even more help with automatically saving your money.
Please note that Payleaf is currently in Beta mode and working toward a full launch, so new features may be in the process of being added, and we will update this article with new updates as they become available.