I have just opened a Monzo account to check it out. Overall, the app design and UX is brilliant, it might be one of the best-designed apps I have used!
I have played around quite a bit with Trends and Budgets. I really like the fact you can split joint account transactions and Trends will only take into account my half, this is so useful for accurately tracking joint spending.
However, trying to set a budget, it doesn’t seem that the app looks at connected accounts to calculate budget limits. My budget screen shows no transactions (as I have yet to make any transactions from my Monzo account, but have connected all my other accounts to the app).
This is a bit incosistent - the Trends functionality works fine, looks at all the accounts and produces an accurate spend figure, but the budget functionality doesn’t look at them at all.
My personal requirement for a spend tracking app is to be able to set a budget (i.e. my monthly income) and see at a glance how much money I have left to spend for the month, when taking into account committed spend, recurring transactions and everything spent so far. The Monzo app shows me how much I’ve spent, but not how much is left, leaving me with the mental math.
Am I not doing something right; is this functionality included and I just can’t set it up correctly?
Or if not, is it planned that the Budget feature will eventually include all connected accounts?