Can the budget be what’s actually in your bank and add on a cash pot (what’s in your purse). Then you are budgeting with the money you actually have. You could also then add in scheduled money coming in if you knew it (such as salary) that updates the budget when the date hits?
So, if I’m reading this correctly, you want Monzo to have the ability for you to enter the physical cash you are carrying? So you’d update that everytime you spend it so it’s always accurate?
I’m not a big enough cash user to want this. How much cash do you normally carry?
The latter part - salary - is already built into Monzo.
I imagine that would be very confusing.
Your balance could show £100 but your £50 direct debit just declined - you wouldn’t know unless you dug into it to find that £90 of your “balance” is in your wallet.
I recall a similar topic to this before. The conclusion was that when you withdraw cash, you can categorise it for a purpose. So don’t take out more than you need. That and the fact that Monzo want you to keep your money in your account too
I don’t carry much either, got about £5. Just was hoping the budget function could be more accurate.
If you’re big into budgeting a lot of people use YNAB because Monzo is a bank first and budgeting is fairly basic in its current form.
Not worth it I don’t think.