When you’re viewing the detail of a transaction, you should be able to tap the category and change it to “eating out”. As @alexs says, the categories can’t be changed or added to at the moment, but there is an eating out one which should serve your purposes for now?
Ok, I’ve just had a very long read through this thread and understand how custom categories would be at odds with another part of Monzo’s vision, namely comparisons of other Monzo user’s spending to your own*.
I do agree that customisable sub-categories are the answer here. It appears as though most people on the thread above agree on this. It’s worth looking at Lloyd’s Money Manager solution as once you create a subcategory “Coffee” and assign it to, for example your local coffee shop, the subcategory will default for transactions at that shop in the future. I cannot stress enough that the use of an emoji for categorising transactions is not something that most users -myself included- would be willing to do. I feel that a semi-automatic system where you define the category once for a given shop is mich better.
- I’m personally not interested in metrics comparing my spending to other Monzo users. Have you considered how you’ll handle the case mentioned earlier in the thread? (People who shop at Sainsbury’s spend £X less on groceries per week on average). How regularly would people have to visit Sainsbury’s in order to be counted in that tally for example? I personally go there once or twice a month but do most of my other grocery spending at Waitrose. Would I be considered as “someone who shops at Sainsbury’s”? My point is that you may see such a variety in user behaviour that you’re unable to derive much in the way of accurate or useful comparisons anyway.
By the way, this forum is a great resource! It’s great to see the level of engagement the Monzo staff have with it.
Totally agree with your thoughts on sub-categories and. It wanting to (manually) assign emojis to every transaction.
Regarding your question about comparisons, I assume that the general idea is that the number of Monzo users grows to the millions and they can use the properties of so-called ‘big data’ to gain insights. But I know very little about this, and am also interested in how Monzo will deal with anomalies in people’s spending and habits. Really from a technical/philosophical standpoint rather than being worried about it.
Just adding my 10p worth here.
I like that it’s simple and does the categorisation for me. If I have to do work to categorise things I tend to not bother after some months.
But I would like a few more categories. Like Pets, Toiletries/Cleaning and all that stuff, Gifts and perhaps one or two other but not loads. Keep it simple still.
For example, if I did some grocery shopping however as part of that that transaction I bought clothes, it would be useful to have the option of sperating a single transaction into two or more categories.
If the total of the shop came to £20 and it popped up in the Monzo app as a “Groceries” shop. It would be nice to have a slider bar to change a certain amount of that £20 into a different categories.
Hopefully I’ve explained my idea well enough!
Hi Henry, I’ve moved your topic (which was originally titled ‘Slider bar for separating a single transaction into different spending catergories’) here, as there’s been some more discussion about splitting transactions into several categories in this thread & it’ll help other users find these ideas, I hope that makes sense!
The slider idea’s a new one though, that sounds cool
Hugo’s comment on this idea towards the top of the thread will give you some sense of the design considerations for this.
He’s also recently previewed some of the new functionality for the spending tab (it looks like categories will be splittable but we don’t know about transactions yet). It sounds like we’ll get some more details as the launch of the current accounts gets nearer
Matt’s answered your question now, you guessed right
Brilliant, thanks for the info alexs!
I’d really like some custom categories. Gifts, drinking, pets, clothes, cosmetics. Loads, I think it would be different for everyone and really help keep track
Serious issue not having custom/more categories. I assumed there would more, really disappointing there isn’t.
I really like how it automatically sorts categories but is it possible to add the ability to create your own categories. I know the app wouldn’t know to put things in a custom category at first but if I move a transaction to one it could ask if I wanted to put all future transactions from that retailer in that category.
Having just run through last months transactions, I still think this is an easy win for much needed functionality. Just an increase in category numbers implemented in whatever way monzo sees fit my missing top 1, like many others, is definitely health.
It sounds like you might not have read carefully enough
But the good news is that ‘health’ is on it’s way, as ‘personal care’
Yep when I saw how many comments there were I just shot in the dark
Please I’d like to have a section where I can put all the money I expend in alcoholic drinks. Then reorganise my life. Thanks.
Hi Raul, welcome to Monzo forums . I moved your post to main topic where other suggestions for custom categories were already added (so Monzo team has easier job going through this feedback!).
You know how categories look like now, but you see next version of categories in this Sneak Preview from Hugo:
I don’t think Monzo can help you reorganise your life though, so I’m terribly sorry about that! Or maybe give it a year or two? Monzo has pretty big plans.
I agree (in the end I stopped using ‘Goodbudget’ because I couldn’t custom categorise)
Currently I’m putting some things through Monzo (e.g. groceries, eating out) but where my own categorisation needs go beyond the categories available, I just pay for them on my current account and categorise them the old fasioned way, by putting them into a spread sheet at the end of the month. Monzo assists me with this as it tallies up all my food etc for me (which is why I use it), but it can’t go the whole way. For me, the reason I use the app is to help me with budgeting, and categories are at the heart of that.
I like the ‘advanced mode’ idea here, so people can choose whether they keep it simple and have all the benefits of that, or whether they’d prefer to sacrifice some of the ease so that they can be more granular in their budgeting. I’d be in the latter category
I would like to add a ‘Charity’ category so that I can keep a tab on how much I give to charities.
Other people may want their own categories.
Just to reiterate what everyone is saying in hopes that it will happen - custom categories is essential! It’s a large part of the reason I joined Monzo. Counting drinks in the same realm as eating out is wrong, and all my categories at this point are confused because I forget which category I assign different expenses to. It prevents me from using monzo properly, achieving my targets and controlling my expenses.
They’ve already said no to this, I think. That’s why I’ll be developing my own app for categorisation and spending breakdown.