diff --git a/packages/loot-core/src/server/budget/goaltemplates.ts b/packages/loot-core/src/server/budget/goaltemplates.ts
index d7bb126ebc150a9a77155302d85b70418986e2c0..fef46900f785e0e0149bdc4be647967c8a7b2760 100644
--- a/packages/loot-core/src/server/budget/goaltemplates.ts
+++ b/packages/loot-core/src/server/budget/goaltemplates.ts
@@ -533,11 +533,31 @@ async function applyCategoryTemplate(
           dateCond,
           monthUtils._parse(current_month),
         );
+
+        let isRepeating =
+          Object(dateCond.value) === dateCond.value &&
+          'frequency' in dateCond.value;
+
         let num_months = monthUtils.differenceInCalendarMonths(
           next_date_string,
           current_month,
         );
 
+        if (isRepeating) {
+          let monthlyTarget = 0;
+          let next_month = monthUtils.addMonths(current_month, num_months + 1);
+          let next_date = getNextDate(
+            dateCond,
+            monthUtils._parse(current_month),
+          );
+          while (next_date < next_month) {
+            monthlyTarget += amountCond.value;
+            next_date = monthUtils.addDays(next_date, 1);
+            next_date = getNextDate(dateCond, monthUtils._parse(next_date));
+          }
+          amountCond.value = monthlyTarget;
+        }
+
         if (template.full === true) {
           if (num_months === 1) {
             to_budget = -getScheduledAmount(amountCond.value);
diff --git a/upcoming-release-notes/1193.md b/upcoming-release-notes/1193.md
new file mode 100644
index 0000000000000000000000000000000000000000..b8c9268cc59dde5ef9297078e05320659e967de3
--- /dev/null
+++ b/upcoming-release-notes/1193.md
@@ -0,0 +1,6 @@
+---
+category: Enhancements
+authors: [shall0pass]
+---
+
+Goals: Schedule keyword supports daily or weekly recurring schedules