Hello Monzo-ers ,
I’m using the monthly ‘spending budget’ but i keep getting confused in a couple of scenarios!
Let’s say my budget is set to £500 a month. I get stuck during these scenarios:
Paying the bill on behalf of others. E.g if my meal is £25 but i cover my friends and pay the bill on my card for £100. They’ll pay me back but it will show £100 spent out of my budget. I want to tally £25.
Online shopping where I know i’ll get lots of money back. E.g i might spend £200 on ASOS but know i’ll return £140 of that. £200 will be taken out of the monthly spending budget, even though i actually spent £60.
What’s the best way to work around these scenarios to get an accurate picture of my spending?