How to use Spaces

How to use Spaces to organize your money

August 11, 2022

Redação N26

Whether setting apart monthly expenses or saving money for future plans, using Spaces can make your financial organization easier. Here's some examples.

Did you know that the human brain does a thing called mental accounting? It sorts the money you spend in order of importance. He knows that your rent money is more important than delivery money, for example. That's why you end up spending more “easily” on food, without thinking straight, than on bigger things. Crazy, huh? But can you imagine being able to apply this in practice, with more control and direct to your account? Here at N26 we call it Spaces.

What is Spaces and how does it work

Spaces is N26's most popular tool. Created in Europe in 2018, it basically works as a more practical way than a savings or an investment to be able to separate, organize and save money.

Imagine each space as a place to put part of your money, creating a division within your main account. As you can have several, these spaces work as sub-accounts, which can be created for any function or purpose.

In addition to creating and deleting, moving money between them is also easy. In the app, you can move any value between one space and another just with drag and drop.

Oh, and the money yields 100% of the CDI within the spaces, ok? Daily.

Organizing your money with Spaces

Ok, but how do you use it, huh? Depends on what you want to do. There are those who prefer to create spaces for regular spendings, for example. There are also those who use theirs thinking about future plans. And yet, those who combines the two.

Organizing regular spending with Spaces

Imagine that you want to separate groceries money every month. Or everyday bills (rent, internet, condominium, electricity, gas, etc.). A space for each of these things ensures that the money won't be spent on a barbecue or drinks on the weekend - you can also create a space just to hang out.

Control spending with Spaces

Picture an iFood Space where you put a certain amount every month. That's your limit to spend with delivery. If it's over, it's over. A space can be a way to control spending and create limits within your budget. Even because you can spend money without guilt on several things, not everything is about saving.

Making plans with Spaces

If you like to get ahead to achieve your goals, having a space for those can also help. You can create one just for vacations, for example. Got a bonus coming at work? A new house space can receive this value. Do you want to travel to see the World Cup in the host country? Create one. Spaces are for that. In each space, you can put as much as you want - and when you can.

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