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Quick and easy budgeting tips to keep your hands off your savings

January 24, 2020
3 minute read
Illustrated graphic with budget division

Saving can be hard. Payday comes along, you reflect on all your hard work and you casually decide to treat yourself to something new. Then before you know it, boom! The end of the month rolls around and you're spinning into the same old cycle of spending all your money. 💸

Well luckily for you, it’s never too late to make a change (and whoever said change is hard, obviously never switched to a bunq account). Check out some quick and easy tips to help keep your eye on the prize and your hands off your savings.

Plan out your spending habits by creating multiple sub-accounts 💰💰💰

Preparation is key. By planning in advance and being proactive, you can keep tabs on what you may spend throughout the month. A great way to do this is by creating multiple sub-accounts based off of your usual spending habits and keep certain funds locked away for certain occasions.

Set up a Savings Goal (and be pressured to actually stick to it) 🎯

Positive reinforcement can be a good thing. By setting up a Savings Goal, you create a sub-account that’s literally designed to help you save. All you have to do is set an amount for yourself, watch your progress grow and wait until your goal is reached- it’s definitely a satisfying feeling to see that 100%!

The best part? The app prevents you from nibbling off your Savings Goal, meaning you can only withdraw the entire amount and not just a little bit. This simple yet powerful feature will definitely help you to stay on course!

Want to reach your Savings Goal even faster without even having to think about it? You can round up all your payments to the nearest Euro, so the difference can be added to your Savings Goal automatically. By enabling Auto Save, you’ll reach the finish line (and maybe a new iPhone) before you know it.

Motivate yourself with a high interest rate 📈

Save money while making it at the same time? We’d say that’s a win-win! Earning interest is a great motivational tool to help you save money, as long as it’s actually high enough to be worth your time. At 0.27%, we give you an interest rate 9 times higher than traditional banks.

We also believe that all money should be treated equally. You get the highest interest rate on all your sub-accounts, not just savings accounts. So all the money you have in the bank, will equally bring you more money to the bank.

Automatically split your salary between accounts at the start of the month ⚖️

Out of sight, out of mind. That’s the idea behind this new bunq Update 13 feature! Right when you receive your salary, you can automatically sort the amount between your sub-accounts. This can be anywhere from 1 sub-account, all the way up to the 25 included in your bunq Premium membership. The amount that’s sorted is fully customizable and can even be replicated for other incoming payments as well.

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