Budget and scheduled payments from pots

I’m going to give a simplified example here of a problem that we experience. And I think it is due to a mismatch in the way the monthly budget is calculated and then payments from pots are counted against it.

Say for example an account has £1200 that goes into it each month.

£200 goes straight into a pot. This leaves £1000 in the account and should leave a budget of £1000 for the month.

Over the course of the first week, £100 of the money that went into the pot gets spent on scheduled payments.

However, because Monzo can see these £100 payments are scheduled, it is actually giving a budget of £1100 for the month. As in, it is counting the £100 back from the pot as income.

The result of this is that we are being shown as having a budget that’s higher than it should be and then spending that is logged against the account that I personally think shouldn’t be (it’s being paid from the pot).

All in all, it’s making the budgeting tool pretty broken.

There are loads more. Summary is going to change so hopefully this will be taken into consideration.