Budgeting with N26—helping you manage and save your money

Budgeting with N26—helping you manage and save your money.

Thanks to the N26 app’s push-notifications, you’ll always be in the know of where your money is going. Receive push-notifications immediately after all transactions, including card and mobile payments, ATM withdrawals, direct debits and transfers.

Set daily spending limits, lock or unlock your card and reset your PIN anywhere in the world, 24/7 and directly from the N26 app. After all, you’re in control and it’s you that decides how much you spend, and what you spend your money on.

Thanks to the budgeting features of the N26 app, you’ll know exactly where you spend your money with just a glance at your screen—your free bank account tracks and recognizes your transactions. Thanks to automatic spending categorization, you’ll always receive an up-to-date overview of your current expenses. And with #tags, you can further personalize the system for a customized tracking: #Vicky’sBirthday, #catTree, #SpanishPaella, etc.

N26 Spaces lets you create sub-accounts that allow you to easily budget and save money. These sit alongside your main N26 account, letting you transfer money between them instantly, budget wisely and put funds aside by separating your savings from expenses. Standard accounts can have up to two spaces, while premium accounts can have as many as 10.

Spaces—the starting point to budget all your plans.

You can name your space after its purpose so you feel the motivation needed to save for it. Here’s how to get started:

  1. Go to Spaces in the navigation bar at the bottom of the screen
  2. Select “Create a new space” and give it a name
Discover Spaces

Shared spaces are a smart way to budget with other people. Easily share the rent, pay bills, or even just create a shared piggy bank for saving with your partner without the need to open a joint account. Each participant can transfer money between the shared space and their own N26 account, and keep track of all transaction activities and progress.

Any N26 customer can be invited to participate in a shared space. However, only N26 premium account holders with either N26 You, Business You or Metal can be the owner of a new shared space. Budgeting with friends and family has never been so simple! Once you’ve created a new space, tap the “+” button in the top right corner to share it with up to 10 people.

You can set rules for each space, allowing you to create standing orders within your spaces. This makes budgeting even faster. It works like a normal standing order but—instead of between two different accounts—you move your money between your spaces and your main account. You can create up to 10 rules for each space.

You only need to set up a rule once, and then the app does the rest of the work for you. Your money will be moved automatically on set dates, making budgeting easier:

  1. Select a space and tap on the 3 dots
  2. Choose “Create a new rule”
  3. Tap “Repeat this transfer” and choose the frequency.
Discover Rules

FAQ

What is budgeting?

Budgeting is the process of making and preparing your own spending and savings plan for the future. This allows you to think ahead, organize your plans and know in advance if you’ll have enough money to do what you like in the coming months or years.

Why is budgeting important?

It’s very important to budget as it helps keep your finances in order—so you can spend money on the things that matter most to you, while avoiding any financial stress or debts.

How can N26 help me with my personal finances?

N26 has many saving and budgeting tools to help you to organize your personal finances. Shared Spaces can help you save and split expenses with family and friends, and you can also automate recurring money transfers between spaces and your main account with Rules. The N26 app also offers Statistics, a feature where you can see your monthly expenses split by category, so you’ll know exactly where your money is going.

What are Spaces accounts?

Each space created with Spaces is a sub-account that sits parallel to your main N26 account. They hold your money but can’t be used for spending or transactions.

How many spaces can I create?

If you have a free standard account, you can have up to two extra spaces active at one time in addition to your main account. N26 You and Metal users can have up to 10 additional spaces active at once. You can create, edit and delete spaces as often as you like.

What is Shared Spaces?

Shared Spaces is a new shared sub-accounts banking feature that sits within N26 Spaces—it’s accessible via the N26 app and web app. It lets you create a sub-account and share it with up to 10 other N26 users. Shared Spaces lets you invite your partner, friends, roommates and family as participants to add and spend together from the same Spaces sub-account. Each participant can easily transfer money between the shared space and their own N26 account, and even keep track of all transaction activities just by viewing the space details.

What is the difference between a joint bank account and N26 Shared Spaces?

With traditional joint accounts, two people open the account together, and then have equal legal ownership of it. The difference with Shared Spaces is that the N26 premium user who creates the space is the sole owner of the space. This means that anyone the owner invites to join is merely being given ‘Power of Attorney’ which allows them to access and/or contribute to the funds within that space.

Shared Spaces is the perfect solution for those looking for a simple, flexible and secure solution for handling a collective pool of money. N26 premium customers can save and share expenses with up to 10 people per shared space. You can do this with anyone you know and trust, and that has an N26 account—this includes partners, family members, friends, roommates and colleagues. You can also remove a participant at any time. Read more about how it works here.