diff --git a/backend/budget_tracking/migrations/0003_customlabel_current_amount_customlabel_goal_and_more.py b/backend/budget_tracking/migrations/0003_customlabel_current_amount_customlabel_goal_and_more.py
new file mode 100644
index 0000000..b0757f7
--- /dev/null
+++ b/backend/budget_tracking/migrations/0003_customlabel_current_amount_customlabel_goal_and_more.py
@@ -0,0 +1,28 @@
+# Generated by Django 5.0.6 on 2024-06-23 17:20
+
+from django.db import migrations, models
+
+
+class Migration(migrations.Migration):
+
+    dependencies = [
+        ('budget_tracking', '0002_alter_transaction_update_wallet'),
+    ]
+
+    operations = [
+        migrations.AddField(
+            model_name='customlabel',
+            name='current_amount',
+            field=models.DecimalField(decimal_places=2, default=0, max_digits=15),
+        ),
+        migrations.AddField(
+            model_name='customlabel',
+            name='goal',
+            field=models.DecimalField(decimal_places=2, default=0, max_digits=15),
+        ),
+        migrations.AddField(
+            model_name='customlabel',
+            name='is_monthly',
+            field=models.BooleanField(default=True),
+        ),
+    ]
diff --git a/backend/budget_tracking/models.py b/backend/budget_tracking/models.py
index 9b59b05..893d18d 100644
--- a/backend/budget_tracking/models.py
+++ b/backend/budget_tracking/models.py
@@ -196,10 +196,10 @@ def save(self, is_first_save=False, **kwargs):
             amount = self.value if self.type == 'Earning' else (-self.value)
             self.wallet.update_balance(amount)
 
-        if self.is_within_current_month() and self.label.is_monthly:
+        if self.label and self.is_within_current_month() and self.label.is_monthly:
             self.label.update_balance(self.value)
         
-        if not self.label.is_monthly:
+        if self.label and not self.label.is_monthly:
             self.label.update_balance(self.value)
 
         return super().save(**kwargs)
diff --git a/backend/users/models.py b/backend/users/models.py
index 3c9b65c..c49850e 100644
--- a/backend/users/models.py
+++ b/backend/users/models.py
@@ -20,16 +20,16 @@ def create_user(self, name, email, password=None):
         user.save(using=self._db)
 
         labels_data = [
-            {"id": 0, "name": "Food", "color": "white"},
-            {"id": 1, "name": "Transportation", "color": "black"},
-            {"id": 2, "name": "Housing", "color": "white"},
-            {"id": 3, "name": "Utilities", "color": "black"},
-            {"id": 4, "name": "Entertainment", "color": "white"},
-            {"id": 5, "name": "Salary", "color": "black"},
-            {"id": 6, "name": "Freelance Income", "color": "white"},
-            {"id": 7, "name": "Investment", "color": "black"},
-            {"id": 8, "name": "Gifts", "color": "white"},
-            {"id": 9, "name": "Other", "color": "black"},
+            {"id": 0, "name": "Food", "color": "white", "is_monthly" : True},
+            {"id": 1, "name": "Transportation", "color": "black", "is_monthly" : True},
+            {"id": 2, "name": "Housing", "color": "white", "is_monthly" : True},
+            {"id": 3, "name": "Utilities", "color": "black", "is_monthly" : True},
+            {"id": 4, "name": "Entertainment", "color": "white", "is_monthly" : True},
+            {"id": 5, "name": "Salary", "color": "black", "is_monthly" : True},
+            {"id": 6, "name": "Freelance Income", "color": "white", "is_monthly" : True},
+            {"id": 7, "name": "Investment", "color": "black", "is_monthly" : True},
+            {"id": 8, "name": "Gifts", "color": "white", "is_monthly" : True},
+            {"id": 9, "name": "Other", "color": "black", "is_monthly" : True},
         ]
         
         # Creation of a related wallet for the created user