Account Summary - Left Over Question

On the account summary page there is, at the moment a green thumbs :+1: up, it says “You’re set to have £44 left over” how is this calculated? I moved some money into Monzo yesterday ready to start using the account over the weekend and haven’t spent anything yet, yesterday the green thumbs up banner said “You’re set to have £36 left over” I was just wondering what metrics are used to work this out?

None of the calculations I seem to run leave me with £44 left over - so was wondering what Monzo was working that out based on.


Generally, Summary looks at your committed spending (throughout the current Summary period) and removes it from your overall (non-committed) balance.
Example; if your Summary period is 01-June to 30-June and you started with (or deposited) £1,000 and have spent £856 so far - both committed and non-committed spending - and have a planned (committed) transfer of £100 to another account tomorrow, Monzo will report £44 is left until the end of the Summary period instead of the actual £144 remaining - because it knows there is a commitment to ‘spend’ £100 tomorrow.

Circumstances surrounding Summary vary greatly between users, but I hope the example helps.

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Although in the first days of opening an account , depositing an amount of money and paying for one or two things from the account it will have very little information to work on to give you an accurate “summary” of your spending until it knows your committed spends , your “average” daily purchases etc etc

As far as I understand - you deposited £10 a couple of days ago , some of which you presumably spent , that will become your average daily spend as you have very little spending history to work on ??? you’ve then added more money , when it said “you had £36 left” over that was a day earlier from the “you will have £44 left over” - maybe you haven’t spent anything from yesterday to today but the number of days has decreased until the end of your summary period, yet your balance hasn’t moved and your average spend hasn’t changed, albeit over one more day average ???

So based on your average spend , the account balance , your committed spending (none as yet ? ) and the number of days left you will have £44 left over , tomorrow if you dont spend anything I would expect to have somewhere near £52 left over - as your average daily spend will have changed slightly because of the extra day , always assuming you have more than the £52 in the account.

Clear as mud :slight_smile:

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Thank you for getting back to me, it kind of makes sense - I will see how I get on after a few times spending and see if it makes it any clearer.

Trying to detach from that YNAB way of thinking

Thanks again

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