With Monzo Plus and Monzo Premium, targets can recommend an achievable, personalised spending target by analysing your past behaviours. With Monzo Plus and Monzo Premium you can create customised spending categories and include spending from your other connected bank accounts and credit cards for more personalised and comprehensive tracking. This makes it easy to understand if your spending is on track for the month. Targets uses a clear, interactive graph to show how you’re doing against your spending goal. You can set a bespoke date to start the month’s spending target so it works for you. You control which accounts and spending categories to include in your target, so even if you schedule payments from a Pot you can include them. To make your budget easy to manage and understand, with targets you set one total spend amount for the month. We’ve also made all the graphs and time views for balance, spending, and targets available to all our customers for free, to help everyone get the most out of Trends. Everything you need to manage your money better. With balance, spending, and now targets, Trends is packed with features to help you understand your past spending behaviours, see what you have to spend in the upcoming month, and visualise how your spending is tracking against your target. If you have Monzo Plus and Monzo Premium, targets can analyse how you’ve spent in the past and suggest achievable, personalised targets to help you control your spending The new targets feature lets you set a monthly spending target and see how you’re tracking in real time on a graph. With Trends' balance feature you can see what you’ll earn, spend, and save across the month, so you can pace yourself from one payday to the next It’s challenging to track progress and stay motivated to stick to a budget It’s hard to visualise how quickly or slowly you spend money during the month It’s difficult to work out what you could spend or save each month Our research identified a few key problems to solve: When we built Trends we had a clear mission to help our customers manage their money better. "With childcare costing up to €1,000 a month in some areas, it is worth thinking about how you will pay for it if you are planning on returning to work after your baby is born.This blog post was accurate when we published it – head to or your Monzo app for the most up to date information.įrom today, you’ll start to see we’ve given Trends another upgrade with a new feature called targets. “Whilst the baby budget planner is a great starting point for parents to help them budget for all the initial expenses, there are other ongoing costs such as childcare which you will need to work into your regular budget using our general budget planner," Ms Fitzgerald added. There are also tips to help those who find they may be over budget. Once a user completes the planner, they can calculate their actual spending, see how it compares to their maximum budget and adjust it accordingly. Then it is broken down into six categories including nursery items, feeding, clothing, changing/bathing, travel/outdoor equipment and play equipment. The new baby budget planner asks users to include a maximum budget at the start. The planner will help parents plan their spending so that they budget for the essential items first and decide on their priorities.” "First-time parents often don’t know what they need to budget for and can feel pressurised into buying the best of everything for their new arrival. “Ireland is currently undergoing a baby boom and for many cash-strapped families budgeting for significant expenses is now a must," NCA Chief Executive Ann Fitzgerald said.
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