A better way to budget is here 🎯

Hey community, it’s me again - Rore the Product Marketing Manager for Monzo Plus and Premium.

:dart:Today I’m excited to announce the latest addition to Trends. Introducing… targets, the tool to help you set a budget that’s right for you and help you to stick to it.

You’ll need to be on iOS 5.4.0 or Android 5.4.0 or newer to see targets.

We’re slowly rolling out the feature and as you know, Trends will be permanently replacing Summary in the near future. With balances, spending, and now targets, Trends is now the place in the Monzo app to understand and manage your money.

And on that note, I’d like to share all the key benefits of using targets to set and track your spending.

Budgeting made easy with a single target

To make your budget easy to manage, targets lets you set one total spend amount for the month.

You can control which accounts and spending categories you include, and choose when to start each month’s spending target. That means even if you schedule payments from a Pot, you can include it in your target.

Clearly see how you’re doing

Targets has an interactive graph to show how you’re doing against your budget.

Similar to Summary, it shows the amount you have left to spend before your next payday. But the Trends graph better visualises the pace of your spending and provides clearer warnings when you’re off track and close to running out of money for the month.

Get more insight into your spending

With Monzo Plus and Monzo Premium, you can create customised spending categories and include spending from your other connected bank accounts and credit cards.

Unlike Summary, targets works with Monzo Plus and Monzo Premium features for more personalised and comprehensive spend tracking.

Personalise your spending target

Also, with Monzo Plus and Monzo Premium, targets can even recommend an achievable, personalised target by analysing your past spending behaviours.

It can also suggest an amount to reduce your spending each month which could add up to big savings over time. You can then use the extra cash you don’t spend however you like, perhaps to top-up your savings Pots!

Looking forward

We want to make sure you get the most out of Trends and over time we will continue to improve its functionality.

We’d like to thank you all for your continued feedback on Trends. We read all the responses we get and it’s helped us build something to help manage your money better. We want Trends to help you get the most from your money so please keep your feedback coming.

Monzo Plus is £5 per month • 3 month minimum • Must be aged 18+ • Ts&Cs apply

Monzo Premium is £15 per month • 6 month minimum • Must be aged 18-69 • Ts&Cs apply


Look forward to trying this out, but on this point…

I’d like to see the ability to set targets per category (and/or account) at some point down the line.


Keen to try this out!

The inevitable flash poll:

  • I’m on Target (I have it! :dart:)
  • I’ve missed the target (I don’t have it :pensive:)

0 voters

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Anyone got this yet?

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You guys are gradually replicating all the things I have in my sheet without hiring me :sadface:

This is great!


I thought not, but then…

@avb smiles upon me this day.


Our random number generator always picks you first, @Peter_G :bowing_man:

(Is your phone really that shape?!)


Aww not me yet, hopefully soon!

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It is. And it’s also this shape:

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So proper feedback later, but this is so slick. The bit to determine your overall budget, and nudge you towards savings, is so lovely.


Okay, so this is the flow. Apologies for redacting numbers but you’ll get the idea:

So we’ve seen this before…

But let’s tap through…

This is where the magic begins…

Calculating your monthly spend is nice.

I was expecting to be able to adjust values by tapping on “Something doesn’t look right” but you get this great explainer instead. And I was…

… Too eager because there’s an amazing screen about changing your budget, with some really nice nudges to reduce spend…

… Or you can put in your own budget and Monzo calculates the saving. (I should really have seen what happens when you go over the calculated figure!)

Finally, this is what you get when you tap into the X% left of Y target box on the Targets tab…

… What you can’t see here is that it’s gently animated. Chef’s kiss!

Detailed thoughts later but three initial ones: the graph confuses me a bit - and scrubbing the current month doesn’t tell you if you’re over / under budget (previous months do); and it feels nicely extensible - tapping into the categories at the bottom takes you to the monthly spend view (with the barcharts), but feels like it could easily go into category-based budgeting; finally, lovely as it is, Targets still feels a bit to me like you’re trying to spend that much, rather than the target to underspend. Maybe that’ll change with time/use!

Finally, chapeau to @avb, @tjvr, @RoreEricaOkoh and team. These releases are really oozing with quality these days. :bowing_man:


Do you need to have plus or premium to have this? I’m aware it’s still being rolled out but over time is the aspiration that free users will also have this, as they do now?

Looks super ace and really like the burndown chart.

Since we’re on agile-esque metrics, what would be ever cooler is a cumulative flow of different categories over time so you can see if a particular area is trending up or down over time.


Currently wandering aimlessly through FinLife™️ I have no targets. Yet.

Can’t wait to apply it to our Joint Account. Wait. What? Oh :man_facepalming:

Wait a double-minute… Post#1 states “You can control which accounts and spending categories you include” - Ooooh :crossed_fingers:


The fact you have this and I don’t tells me Monzo got their naughty and nice list mixed up! :frowning:


inserts Not Sure If meme

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No, most of the functionality is available for all users. As Rore mentioned, Plus and Premium get the additional benefit of having their past spend analysed automatically, so they can see a personalised target.


We’ve just rolled out to a bunch more people! If you didn’t have this yesterday, make sure you’re on 5.4.0 and check again :crossed_fingers:


Have you been blessed targeted by @avb this day?

  • Aye
  • Nay

0 voters

Why no option for resetting every 4 weeks!!! I feel like having budgeting and other things work every 4 weeks (how I am paid) is going to become my version of @davidwalton and Joint Accounts!

Please can you look into custom pay periods?