Rules Overview

Overview

Sequence allows users to automate the management of their finances through customizable rules that trigger automatic transfers based on specific conditions. These rules help users direct their income and other funds into savings, investments, expenses, or other financial utilities with ease.

Rule Structure

The rules in Sequence follow a structured approach that includes key elements such as triggers, conditions, and actions. Users define these rules based on their financial goals and cash flow patterns.

Key Elements of Sequence Rules

1. Trigger

A trigger defines the event that initiates the rule. Triggers can be based on a variety of events, such as:

•   Deposit received: When money is deposited into a specified account or the income source.
•   Specific date or recurring time: Triggers can be set for certain days of the month (e.g., every 1st or 15th), or for specific intervals such as weekly, monthly, or annually.
•  Incoming API HTTP request (Developers): API triggers initiate the rule when they receive an HTTP request to a specific URL.

Read more about triggers.

2. Condition

A condition is a requirement that must be met for the rule to execute the action. Conditions help add granularity to the rule, ensuring it only runs when certain criteria are fulfilled. Common conditions include:

• Transfer amount (for rules triggered by incoming funds only): Compare the received amount (which triggered the rule) to a pre-configured amount.
• Balance: Compare the balance of any connected account to a pre-configured amount.
• Day of the month: Compare the current day of the month to a pre-configured day.

Read more about conditions

3. Action and Action types

Actions define what happens once the trigger occurs and the conditions are met. Typical actions in Sequence include:

• Transfer fixed amounts: Move a specified sum from one account to another automatically. This can be used for savings, investments, debt payments, or bills.
• Transfer percentage: Divide an unspecified amount among different destinations based on percentages. For rules triggered by incoming funds, you can split those funds. For date-triggered rules, you can divide the account balance at the time of execution.
• Pay off a liability balance: Automatically settle the current balance for a specific liability.

Read more about actions and action types

Common Use Cases for Sequence Rules

1. Budgeting & Savings Goals - Automatically allocate a portion of your income toward various savings goals or budget categories. For example, automatically funnel 20% of each paycheck to an emergency fund and 10% toward a travel fund.
2. Debt Management - Use rules to prioritize debt payments. For instance, set a rule to send a portion of any extra funds over a certain threshold to pay down credit card balances or student loans.
3. Investment Automation - Set up recurring transfers to your investment accounts, such as stock portfolios or retirement accounts, to ensure you’re investing regularly, even if you forget to do so manually.
4. Expense Management - Automatically transfer funds to a designated “bill payment” account to cover expenses such as rent, utilities, or subscription services. This ensures that users don’t spend money earmarked for bills elsewhere.
5. Emergency Fund Maintenance - Set a rule to top off your emergency fund automatically if it dips below a certain balance, ensuring that you always have a financial cushion available.

Continue to learn more about triggers.