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Budgeting & Money Management

Budgeting and money management features allow bank clients to stay abreast of account debits and credits, a.k.a. spending and receipts. This is an important strategic process, involving organizing your financial plans well in advance.

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By keeping your finances in order, it’s possible to set funds aside for what matters, share expenses when necessary, and even automate money transfers. Setting a personalised monthly budget online is important. Whether it’s a personal or a business budget the process is easily managed online. Budgeting and money management functions can easily be performed online, via a mobile banking application.

The leading mobile banks are way ahead of traditional banks with budgeting and money management functionality. Our top partners include the likes of N26, Bunq, Starling Bank, and Monese. We will examine what each of these mobile banks offers clients.

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N26 is dedicated to providing powerful budgeting tools to clients. With N26, clients can enjoy instant push notifications for all transactions. This alerts you to when money is coming into your account, and when money is leaving your account. Additional money management features include setting spending limits, including daily payment limits, and daily withdrawal limits, with sliders that can be activated through your mobile phone. Since these features and functions are available around-the-clock, it is easy to manage your money, change your PIN, lock your accounts, and determine how much you want to spend at any given time.

Other powerful features and functions include statistics for staying ahead of the different components of your budget. This includes spending tracks, budget allocations, and the inclusion of hashtags for specific expense items. With N26, money management is further enhanced with the creation of sub-accounts, for improved budgeting of your financials.

Bunq budgets make online money management really easy. You can start budgeting from the get go, with personal or business accounts. It is easy to set up a monthly budget, and you can customise it to your own needs. Clients can input starting dates for budgets, and include as many accounts as necessary.

Bunq offers “The Easy Money” plan for expenditure, savings, and online banking. It includes subaccounts for different purposes, with full control of your subscriptions, and instant insights into money flows. Plus, you can set up Autosave, so that your payments and savings are taken care of around-the-clock.

Starling Bank mobile banking application is designed to make it easy to manage spending and receipts. Digital banking options facilitate balanced budgets across multiple categories, 24/7. Known as Piggybanking at Starling Bank, all of these features and functions are geared towards easy management of your finances.  Budgeting for expenses is easily done, including subscriptions.

Weekly spending plans are also taken care of, with monthly extras goals available too. Clients at Starling Bank are encouraged to establish a savings goal, by allocating a specific amount towards a savings target. It is possible to have multiple savings allocations for holiday spending, a rainy day fund, or birthdays and celebrations. Budget help is also available to help you understand money flows in and out of your account.

Monese simplifies the process of budgeting and money management for users. You can set up a plan and stick to your budget via the mobile application. Learn how not to overspend, courtesy of a user-friendly budgeting tool and expense tracker. With Monese, UK clients can establish goals – weekly or monthly – and ensure that the budget allocation is never exceeded. By having control over your funds, you’ll know exactly how much money is coming in, and how much is going out. Statements can easily be downloaded in Excel or PDF format, according to your chosen budgetary period.

The Monese app provides easy to understand visual charts, including detailed £ expenditure totals, and the number of transactions. These are all divided up into categories, for easy management. The detailed transaction alerts are categorized, and transmitted by push notifications every time a purchase is made. Another nifty function with Monese is pots. This is a savings plan which can be maintained separately from your daily expenditures. It is possible to establish up to 10 pots for specific savings goals.