I’m using the US version of Monzo, and I’m wondering if this committed spending reference is something that just hasn’t come to Manzo US yet? I normally don’t pay attention to budgeting in Manzo since I use YNAB right now, but figured I’d take a look this morning and have no idea what committed spending actually means.
Committed spending is money you are committed to spending each month usually by a contract.
For example, if you have a Netflix subscription that you spend $9.99 on per month. This amount will be reflected in your committed spending so you know how much money you have left once this has been taken into account.
Here in the UK we pay for lots of things like car insurance, gas, electric, mortgage repayments etc by direct debit. Which are automated payments made each month. I understand these are not common in the US but committed spending covers all these too.
It’s definitely common here too, but my guess is that the feature hasn’t come to the app yet. The budget area references committed spending but there seems to be no way to add any regular bills to it. The US version of Monzo is way behind yours.
Oh ok. I was just answering your question about what committed spending is.
I don’t have a US account to be able to see what you’re seeing, so I’ll leave that part for someone else to answer