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:
Spending budgets for individual categories is an absolute must (I really canāt see why this wouldnāt transfer from summary, so really hoping itās updated soon )
As others have pointed out, itās not great for accruals. Each month I set aside a certain amount of money into a āholidayā pot to ensure that Iām putting enough away each month to cover holidays in the year. Itās not clear how to account for this, because most months it means Iām wildly under budget, and then months with holidays Iām wildly over budget. I wouldnāt 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!
Iām not sure that itās 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 itās seeming to add a lot of complication. Iām 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 āa better way to budgetā but as of yet Iām not convinced (and in general I love monzo, so I really would like to be convinced!)
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?
Hereās 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:
And in todayās entry in Trends team sparks joy, we have a lovely little update that shows you, when youāre scrubbing on the Targets line, exactly how much above/below budget you are.
Iām 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.
(Edit: I think Iāve accidentally added a bit of a filter to that screenshot, looking at the contrast!)
Yes. It lasted about two days Iām afraid to say. Then I realised Iāve got this far with just a quick balance check every day or so, that checking a graph doesnāt do it for me. I never really compare one month to the last, and as long as I end the financial month in the black Iām good. So I went back to Starling, whose app I prefer inordinately.
Yup, essentially the reason I moved away from Monzo. I didnāt see the need to pay for this feature (at the time it was a paid for option) and still donāt even when itās there for free
Does anyone have the issue whereby when tapping through the different options in trends I.e balance, spending and target it then jumps to December and doesnāt display any graph information? Tapping them again makes it go back to this month
Remaining thankful for the recent tweaks on Targets (which, incidentally, Iām using much more than I ever thought I would, not being a ābudgeterā), hereās a request for a small quality of life improvement.
Iām slightly above target. This is that the Targets screen looks like when I open the screen:
This gives me the impression that Iām Ā£103 over budget
But when I scrub and hold the graph to today, I get a much more informative view:
Request: any chance of having the tap/scrub version as default please?
Sadly because of the way I use categories my trends never makes any sense. I have always categorised my bills in to specific types āhealthcareā āhouse billsā ātransportā etc as I like that granularity.
But then it means I canāt meaningfully exclude much. So itās just a graph of my bills and shopping combined.
It would be more useful to be able to discount specific repeating transactions.
Like with the āLeft to Spendā feature, āTrendsā will only become useful to me when they implement 4 weekly periods to coincide with my pay days (like a lot of public sector workers).
Genuine question - when I used trends I got paid on the same day each month and set it to this, which was early in the month and typically a four week period.
Iām trying to edit a target for a previous month, changing the target itself and the accounts included but the edits donāt seem to stick. They are only applying to the current month with the previous month remaining unchanged. Iām selecting the past month and attempting to edit the target directly.
Does anyone know how this is supposed to work? I believe there were changes rolled out to have month specific target configurations.
I think the change was so that you could change the current month, but other months would be unaffected. I donāt believe you can set it differently month to month.
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