My friends and I go to the Cinema.
I pay for the tickets.
My two friends send me money to my mondo card.
The ticket payments are categorised as Entertainment.
The money in is not categorised as entertainment.
So now at the end of the month, I’ve spent £30 on entertainment (cinema’s are far too expensive) instead of just £10.
Solution:
I should be able to categorise ‘money in’ into the same categories I use for ‘money out’. This should work to bring down the total amount spent each month, thus helping to effectively manage my money!
At the moment I find myself not pooling money together like this in order to keep an eye on my own finances, making me a difficult friend! Think, splitting money at the end of meals etc.
Bill splitting is definitely a good idea, and something I’d like to see!
However I’m not sure the solutions mentions quite cover my needs. I don’t want that to sound selfish but I’m sure others might share the same view that sending a friend a ‘bill’ for their share of lunch or tickets or whatever isn’t quite something I want to do.
I reckon if they’re taking about it already, they’ll come up with a solution better than mine. I just really wanted to avoid having to change habits or start sending bills just to stay on top of my finances.
Yeah that’s a great point. I didn’t really consider it that way.
There are definitely valid reasons why you would have money transferred to you without splitting a bill, so I agree it would be nice to be able to define a category for the transfer.
Hopefully they implement something like this for sure.