Everyone has fixed expenses like rent, school, electricity. And also variables, but recurrent ones, such as groceries, food delivery, transport apps, occasional purchases of things for you or for the house. You can create a virtual N26 Card for each of these things.
By entering the app, in the cards menu, and scrolling down, you will see the option to "Create a virtual card". There you can choose as you wish: "Streaming", "Food", "App by car", "Online shopping", etc. With each one's info, you can go to the apps or websites you usually shop with and register the respective virtual cards.
Then you already have two advantages. The first is security. With a payment method for each thing and place, you create a layer of protection, preventing any flaws in the security of websites or apps from harming your entire account. If you need to cancel one of them, just create another one and register there, without having the headache of changing everything.
The second advantage is spending control. That's when things start to get interesting.
From the moment each expense has a card, it becomes easier to understand where your money is going - and how much you spend on each thing.
All expenses with virtual cards are unified in your N26 Card invoice. But just by entering the app's cards menu and going to "View invoice details" you can start playing.
The "Spendings of the month" can be viewed in two ways: gathering "All" in the same list, or separating "By groups". In this second option, you see the total amount spent in the month with each card. And that makes the difference.
Let's say you've noticed over the months that you've tripled your spending on transportation apps, or that you've stayed the same with food orders. This shows that, within your budget, you need an almost fixed amount to spend on food, while values for races are out of control.
With more information about your expenses, it is easier to make decisions in your next financial planning. You need to take money from elsewhere to cover variable expenses and you will have to prioritize these expenses eventually. But no surprises.
We always talk about Spaces as a financial planning tool: you create as many as you want to separate the money you want to spend on whatever you want and get organized. But we have just seen that it is also possible to organize purchases with a virtual N26 Card - and this works well for special dates.
Try creating a card just for the next Black Friday, for example. Or one for a holiday trip with friends. Every time you use these cards, the expenses are added to them. When looking at the invoice, just group it by card to find out how much you spent on each item.
Easier to divide, easier to do math, easier to plan and manage your money.
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