Advice for using the spending budget properly?

Hello Monzo-ers :wave:,

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:

  1. 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.

  2. 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?

When your friends send you money get the to use Monzo Me rather than account number and sort code transfer, its works this way as it see Monzo me as a payment. I do the same

1 Like

You’re right, the budget is confusing and could do with some simplification.

For both scenarios, when money comes into your account (when friends pay you back, or when a retailer refunds you), it’ll reflect in your “left to spend” amount. ie it will count against spending.

However, if they pay you back in the next Monzo month, it’ll count against the next month’s spending.

There are so many ways to break the budgets at the moment. Hopefully it’s something they’ll address soon.

1 Like

Thanks for the reply. To clarify…if i have “£440 left of £500” on the summary page and my friend repays me £50 (in the same Monzo month)… it will then show as having £490 left of my budget for that month?


1 Like

If they use yeah.

You can even allocate it to the individual budget that it came out of if you use it.

1 Like works a treat, it was doing my head in when people paid through the standard transfer. I did a then realised it actually recorded it different so dont give my details anymore just

Shame really as cost Monzo money, but till this is fix I will continue to do so

If everyone starts using it maybe it will force their hand and promote a proper fix!


This topic was automatically closed 180 days after the last reply. New replies are no longer allowed.