If you’ve ever tried to save up for a trip, or hoped to set some money aside to grow your vintage record collection, you probably know how important it is to stay organized and motivated. Saving for small and large purchases can take planning, but it shouldn’t be complicated or stressful. It should be a fast, straightforward, and dare we say, fun experience that keeps motivated to reach your goals; a step towards financial wellness that empowers you to live your way.
Spaces gives you a beautiful, intuitive, and fast way to set money aside for the things that matter most to you. Be it a rainy day fund, or an upgrade for your 8-year-old laptop, there is no goal too big or small to start saving. Simply drag and drop from your main N26 account, and in just a few taps you can fund your new space on your terms and timeline.
So if you need a little motivation to start putting money aside, or simply want to find interesting ways to fund your next big idea, here are some surprisingly practical uses for Spaces to get you started.
1. Stay motivated
If there’s a bad habit you’ve been hoping to break, or simply want a small incentive to stick to your New Year’s resolutions, you can create a virtual “Motivation” space to help you stay on the right track. Every time you skip the gym, make another late-night impulse purchase, get takeout instead of cooking, just drag and drop a few dollars into your space. For added motivation, once you reach a defined amount, put that money towards something that will help you maintain your healthy habit of choice.
2. Chase your dreams
You know that one thing you’ve always dreamt of doing, but have always put off? Perhaps it’s writing a book, playing the cello, or opening a bakery; investing in your dreams takes time, knowhow, and of course, money. With Spaces, you can create a goal to save for classes, equipment, studio space, supplies, or anything else that you need to get you one step closer to checking off that item off your bucket list.
3. Find a new place
Moving can be expensive, whether it’s to a new city, a bigger apartment, or just a place to call your own. Security deposits, down payments, first and last month’s rent, movers, and surprise incidentals can add up, and the steep cost of moving can also make the process more daunting than it needs to be. Itemize costs ahead of time, add it up, and create a Space to help you set money aside to make sure you’re completely covered for your big move.
4. Save for a rainy day
While we might not have to sell you on its importance, having a financial safety net is one of those things that’s often easier said than done. Unexpected expenses like weddings, weekend trips, and wardrobe malfunctions do come up, and while these might not technically qualify as emergencies, it can be easy to “borrow” from your reserves. Spaces can be a good way to put money aside in a separate sub-account, where you won’t be tempted to spend it.
5. Treat yourself
Everyone deserves a treat from time to time, and saving for the things you want can be the most rewarding way to get them. Rather than putting that new phone or trip on a credit card, consider creating a sub-account for those “treat yourself” moments, whatever that means to you — whether it’s an iced latte on your way to work, a last-minute concert ticket, or a weekend getaway. You can set money aside on your terms, and once you reach your desired goal, just go ahead and enjoy without guilt.
6. Invest in your well being
Life can be a lot sometimes, and finding ways to take care of yourself physically and mentally can pay off in the short and long term. Creating a “wellness” sub-account tailored to your individual needs will help you stay centered no matter what life throws at you. Set money aside for yoga, meditation, therapy, massages, or whatever you need to stay healthy and happy.
No matter how you save, or what you save for, we can all use a little structure and help reaching our financial goals. Spaces is an intuitive and straightforward way to help you put money aside, reach your long and short term objectives, and bank in a way that fits your needs. Sign up in 5 minutes to discover mobile banking designed for your mobile lifestyle.
The N26 account is offered by Axos Bank®, Member FDIC. N26 Inc. is a service provider of Axos Bank. All deposit accounts of the same ownership and/or vesting held at Axos Bank are combined and insured under the same FDIC Certificate 35546. All deposit accounts through Axos Bank brands are not separately insured by the FDIC from other deposit accounts held with the same ownership and/or vesting at Axos Bank. The N26 Visa® Debit Card is issued by Axos Bank pursuant to a license by Visa U.S.A. Inc. The N26 Visa Debit Card may be used everywhere Visa debit cards are accepted.