Setting spending targets

In the Trends tab of your Monzo app - when you first go to the Target section, you’ll be asked to choose a “spending target” 🎯

This is the amount of money that you are comfortable spending each month. The exact amount will be different for each person - but we generally recommend choosing an amount that is lower than what you earn each month, allowing some room for savings and expenses.

In addition to your overall spending target, you can choose targets for individual categories as well. And on the other side of things, you can choose categories that you don’t want to see reflected in your monthly spending.

Once it’s all set up - you’ll see a graph with a green line going down the middle. This line represents the amount of money that you can spend during the month if you want to stay in line with the spending target you set.

You’ll also see a blue line that may be curving up or down - that line shows how much you have actually spent. The closer it is to the green line - the more on track you are with your goal. If it’s under the line, that might mean you are overspending - but if its over the line, your spending less than you planned for 💵