[72deluxe]

Settings should be under ~/Library somewhere (perhaps ~/Library/Preferences?) and not in the Documents directory.

[cactus2093]

I've seen a number of apps that store settings or presets in Documents. Kind of the same ideas as dotfiles in your home directory, which seems pretty reasonable and I don't think there's one agreed right place for any of this.

A nice benefit of storing them in Documents is that it syncs to icloud automatically even on the free tier, so you can share it between all your computers.