MIA: Track your budget. Live smarter. | Banque et Caisse d'Epargne de l'Etat, Luxembourg
25th May 2018

MIA: Track your budget. Live smarter.

Next year, Sophie and Marc are planning to go on holiday to Japan. This will be quite an expensive trip, and the young couple will have to plan their expenses properly and start putting money aside quickly. Thankfully, MIA is there to help them reach their goal more easily!

MIA’s advantage

It is not always easy to know, at any given time, your exact financial situation. MIA anticipates the available budget by taking into account the customer‘s recurring spending up to a given date. Moreover, MIA classifies spending and incomes into different categories enabling the customer to visualise immediately the various budget items.

For their trip, Sophie and Marc have both set up a “Holiday in Japan” project in MIA. Each of them will need around 2000 euros, including airfares, hotels and daily expenses, for this great adventure. Now, how can they proceed saving for this trip in a coordinated manner?

Hi Sophie and Marc,

I am MIA and I am going to help you reach your goal: holidays in Japan!

In their “Holiday in Japan” project, all they have to do is indicate the date when they will need the money and MIA calculates the amount that they must put aside to reach the total needed. Sophie and Marc want to leave in March 2019, which is around 10 months away. MIA indicates they would need to save around 200 euros per month. Marc approves this simulation and can choose between either setting up a standing order or one-off payments. He chooses to set up a standing order for 200 euros, which will be paid into his chosen savings account every month. Sophie decides to go for one-off payments.

Easy and strong finance management!

A personal assistant

Without MIA, Sophie and Marc could of course have also set up a standing order to save for their holiday. But with the rent payments, electricity bills and other expenses, they don't always have their exact account balance in mind all the time. Thankfully, MIA takes into account all these expenses and estimates the amount that each of them still have available to spend during that month. It does this without them having to worry about it or keep a household book.

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