A better way to budget is here šŸŽÆ

Iā€™d honestly be keen for the graphs to be swipable with the bottom section staying the same.

Now, I know that would mean you couldnā€™t swipe easily month to month but I do find it difficult to click between the three and see the same information at the Botton presented in three slightly different ways

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I think what Iā€™m need now is an ā€˜include/exclude from Targetsā€™ toggle on transactions. Iā€™m going to have to exclude a category to prevent a transaction (Iā€™d saved up for it using a pot) messing up this months Trends. Similarly, I think an ā€˜includeā€™ toggle may also help for those categories that are excluded e.g.Bills. So if I make an extra bill payment, that comes out of discretionary spend, it will reflect in Targets.

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Good idea. Workaround idea before then:

  • Non-Plus/Premium (and Joint Accounts): Use an unused category (if available) for ā€˜transactions to exclude from Targetsā€™ and then categorise the required transaction(s) with that category, and exclude that category from Targets

  • Plus/Premium: Make a new ā€˜Excludedā€™ category and assign it to the required transaction(s), and exclude the ā€˜Excludedā€™ category from Targets

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What happens if youā€™ve run out of categories :flushed:

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Good point. Youā€™re stuffed if no categories left. Scratch my workaround idea and stick with your better idea of per-transaction-exclusion-choice!

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I really need more categories.

Hereā€™s a work around if you have Plus/Premium:

  • Find a category you need but donā€™t use every day.
  • Tap ā€œremove categoryā€ - that will archive the category and not change any of the previously labelled transactions
  • Create your new category

When you need to use the old category:

  • Follow the steps above to archive another category
  • Find the category in a Trends and tap on Edit (top right)
  • Tap ā€œUnarchive Categoryā€ at the bottom.

Itā€™s super clunky, but if you have categories you want to keep but only use rarely itā€™s helpful.

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Well I never, every day is a school day. Thanks for the tip, I never knew that :nerd_face:

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Cc: @Alexxxxx

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Hi Jack. Any update on this bug? Thanks

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Starting to get used to this a little bit more, but I must admit that I do find myself going back to summary often as well.

For me it boils down to a few things:

  1. Spending budgets for individual categories is an absolute must (I really canā€™t see why this wouldnā€™t transfer from summary, so really hoping itā€™s updated soon :crossed_fingers:)

  2. As others have pointed out, itā€™s not great for accruals. Each month I set aside a certain amount of money into a ā€œholidayā€ pot to ensure that Iā€™m putting enough away each month to cover holidays in the year. Itā€™s not clear how to account for this, because most months it means Iā€™m wildly under budget, and then months with holidays Iā€™m wildly over budget. I wouldnā€™t want to exclude this spending completely as I still want to be able to track it etc, but if anyone knows of a nice, neat way to solve this (or if anyone has any ideas of how this could be built in) I would greatly appreciate it!

  3. Iā€™m not sure that itā€™s completely clear exactly what the best purpose for each of the three graphs is. I can read a graph and get info from it, but overall itā€™s seeming to add a lot of complication. Iā€™m not clear on what value each is actually providing over what we had before in summary, which to me was very clear and serves its purpose well.

This thread is titled ā€œa better way to budgetā€ but as of yet Iā€™m not convinced (and in general I love monzo, so I really would like to be convinced!)

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My only idea is that each month the Ā£xx you put into a pot, instead of savings you mark it as holiday and then consider it spent. Then when you do spend in one big go, mark it as savings?

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Hereā€™s a lovely quality of life improvement. Targets now shows how many days are left in the current period and what that means as max spend per day:

This is lovely. Thanks team!

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The void is consuming your target, Iā€™m afraid

Also, is it Ā£610?

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Negative.

Did you work it out from the data Iā€™ve left unobscured (I know that it can be worked out, I was just curious if anyone would)?

Or did you do it @N26throwaway style and run it through image processing?

I tried to work it out but clearly my maths skills arenā€™t great

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I mean itā€™s not Ā£610. But Iā€™m not saying that itā€™s not close. :eyes:

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About Ā£611?

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Your math is right. Rounding errors probably means it could be a bit higher. Or a bit lower.

Ā£21.60 per day would be the answer if the budget was Ā£600. Trends would might round that to Ā£22. Although youā€™d think itā€™d always round down so it never looks like you have more than you would. But Ā£600 feels a more appropriately rounded figure than say Ā£620. Although if it is always rounding down then it equally could be Ā£625.

I should probably check my own and see, but phone is dead. TL;DR: your equation is right, but doesnā€™t take into account rounding errors. The actual value (depending how Monzo rounds) would be anywhere from about Ā£585 to Ā£635.

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Available left of target = Ā£22 * 15 days = Ā£330
So Ā£330 represents 54% of original spend target
Original spend target = Ā£611.11

Thatā€™s the award for the most random monthly target right there :trophy:

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And in todayā€™s entry in Trends team sparks joy, we have a lovely little update that shows you, when youā€™re scrubbing on the Targets line, exactly how much above/below budget you are.

Iā€™m so so happy folk are listening and have brought this to us. A small tweak but definitely brings important functionality and a lovely bit of Monzo Magic. :tm:

(Edit: I think Iā€™ve accidentally added a bit of a filter to that screenshot, looking at the contrast!)

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