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 youād think itād 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 doesnāt take into account rounding errors. The actual value (depending how Monzo rounds) would be anywhere from about Ā£585 to Ā£635.
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.
This is right, our approach at the minute was driven by wanting to allow people to keep a fixed history of your target at the time and how you performed against it, so changing your target now doesnāt suddenly mean you massively missed / hit all your old targets that are now being judged differently
We donāt currently have a way for you to change your previous months targets unfortunately
Iām the same. For example my Netflix/Prime/TV Licence are household bills but put as entertainment. I have to exclude entertainment for trends but that covers some spend I want in trends.
What would also be helpful is that the budget set starts from that point until the end of the month. Currently if I set a budget of Ā£500 on the 15th of a month it takes the target from the 1st. I donāt want that. I want it from the 15th otherwise sometimes itāll say Iām over target for daily spend when I clearly am not.
At the end of the period, thereās nowhere to show you in Ā£ terms how much you spent. We know the target, the percentage saved and the absolute amount saved, but somewhere Iād like to see the total amount spent - it saves on the cognitive load of trying to work it out. (And no, I canāt use the Spending or Balance tabs as they work off of different criteria).
