Budgeting is something I’m quite interested in, and for the moment (until Mondo becomes a full bank) it’s less about bills for me and more about day to day spending. There seems to be lots of threads on this and I haven’t read them all, so apologies if I’m plagiarising, but I think it would be great if you could set a daily ‘limit’ which Mondo keeps you aware of.
Given Mondo isn’t a bank yet, I am using my account for general spending. Bills and other stuff gets sorted with my other bank, and each pay day I top up my mondo account for spending. I think what would be really cool, is if you could set a monthly budget (e.g. £600) and Mondo splits that out over the days until your next pay day. Let’s assume 30 days, so £20/day. I’m envisaging this as an alternative function to the “spent today” calculation in the top right of the home screen. Each day you get closer to your next pay day, the average over the number of the days left is recalculated, so if you spend nothing for three days, you can see your daily budget has risen to ca. £22 – equally, if you have a big expense that takes you off course, your daily budget would show less than £20, and you know you have to work to get back to an even keel. In this sense the daily limit is obviously not a hard limit (as Mondo won’t stop you spending on the big item), more a soft limit, or target.
I think this feature is still relevant for when Mondo is a full bank – but maybe then you can squirrel money away into other Bills accounts within Mondo, and just use your ‘main’ mondo account for spending – I don’t know.