Set up monthly budgets for things like groceries and transport

Graeme Keeton

 · 01/08/2019  · 01/08/2019

January can be tough for a lot of reasons, with spending and saving being top of the list for many people. But let’s talk about you. It’s a brand new year, which means new opportunities and renewed motivation to get shit done.

You want to eat less junk, spend more time outside, buy less stuff you just don’t need. We get it, but for a lot of millennials, the budgeting problem just won’t go away. Last year, we mentioned a study which said that, “9 in 10 [millennials] overspend, under-save or take on additional debt at least one month per year.”

Clearly, we’d love to change that. And change it we will.

Set up a budget in seconds 💰

Introducing Budgeting by Category from Revolut. We know, catchy name, right? 😅

Budgeting by Category is exactly what it sounds like. It allows you to set a monthly budget for individual categories, such as restaurants, travel, groceries, health, utilities and more.

Okay, fine. But so what? Why would you want to spend time setting individual budgets for things as mundane as your weekly shop? Well, since we’re all about transparency at Revolut, we believe that if you can see it, then you can control it.

That means smarter spending, more effective saving, and way more money in your pocket for the things you really want. And all of this in the touch of a button.

Cool, but how does it work? 🛠️

Budgeting by Category uses an existing Revolut feature you might already be familiar with. Open up the Revolut app and tap on Analytics, and you’ll see your monthly spend split out by Category, Merchant, and Country.

From here, simply tap the category you wish to set a budget for, enter an amount, and Revolut will automatically update you on your progress when you hit 25, 50, 75 and 100 percent. Easy peasy.

Budgeting is not capping 🧢

One more thing: If you happen to exceed your budget in any area, that’s fine. Revolut won’t cap your spending. Budgeting by Category is just there to help you get a better handle on your spending.

So, what are you waiting for? Head to the app now to try out Budgeting by Category, and make saving the one resolution that's easy to stick with.

Go set a budget 📲

p.s. You can totally run that marathon if you want to. 👟