Setting a budget is easy, but sticking to it is a whole different ball game. To make things a little bit easier for our users, we’ve added the first budgeting control to the Revolut app.
After the success of Vaults, a feature that allows you to instantly round up and save spare change from your daily spending, we decided to build a simple but effective tool that lets you set a monthly budget and makes you stick to it day in, day out.
Why should I bother setting a budget in the first place? 🤔
Whether you're a student or a working professional, financial discipline is a quality everyone should have. So, no matter what point you’re at in life, you should always consider setting budgets for how much you want to spend each month, as it can help you to beat the cycle of living 'pay cheque to pay cheque.'
Doing so will also ensure you have enough money to cover your living costs (eg. rent, bills, food and so on) as well as giving you the flexibility to spend on the things that make you happy - because we know it's often the little things that matter most! The best part about staying within your budget is that you’ll most likely have some extra cash you can save towards your goals - beach holiday anyone? 🍹
Budgeting is similar to leading a healthy lifestyle - the more you do it, the better you get at it, to the point where it becomes a part of your daily routine. The key to getting better at managing your money is to start budgeting and keep on doing it until it becomes second nature. After all, the rich don't stay rich by spending all their money.
Ok, so how can I set a budget using the app? 📲
Easy - just make sure you have the latest version of the app and head over to the Analytics section.
Do you see the shiny button under the graph? Tap it to set a budget for the month and hit the pink button. Swipe between accounts and you’ll notice you can also set budgets for every currency account you hold inside the app.
💡 Hint: All too often, payday comes along and before you know it, you’ve burned through all your money. Try topping up only what you plan on spending for the month.
So there you have it - the first of many budgeting controls, all at the tap of a button. But we don't just build things for the sake of it; we want you to tell us about your own needs and how you want the Revolut app to make life easier for you. Make sure you write your suggestions in the comments below! 👇🏻
Join Revolut for Free
Over 5M people have used Revolut to set up an account in minutes, spend and send money globally and hold and exchange 29 currencies with the interbank exchange rate.*