✅ Custom Category Creation

Could Family be used for this?

You could then put #Education within each transaction for even more detailed results.

Good idea!

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Monzo -

This app could be amazing. But honestly I need custom categories 1000% more than I need data visualisation and feedback about how much other people spend. I understand the challenge that custom categories pose for the features you want to develop, but I think your insistence on denying users this feature is going to be your downfall. Why not allow both options so that users can choose the functionality that makes sense for how they personally manage their money? I can think of a few ways this could be accomplished off the top of my head, and I’m sure you could to!

I want Monzo to succeed and I want to stay with y’all, but I the second someone else enters the market with an app that allows custom budgets Im out. Please don’t make me do that. It’s a common sense use case, listen to your users!

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I appreciate monzos view on custom categories but surely subcategories would be a compromise that works for both sides we can customise our own sub spending targets but keep the overall main categories for monzos use…
Entertainment… drinks, dates etc
Personal care… dental, haircuts

That way monzo could still work there overall algos and he users would have a more personalised experience.

I know i know this is what tags are meant to do but lets face it tags are useless in terms of planning only for totalling up past spend

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I also would like to see a clear cut way of monitoring my booze spending. Right now I use ‘entertainment’ with an addition of a tag #booze.

Issue is that there has to be a limited amount of categories for Monzo algorithm to categorise spendings accurately and automatically.

For that reason I wouldn’t propose adding more categories.

Instead flesh out the #TAGS functionality properly.

They’re great exactly because they can be manually tailored to each persons heart content without necessity for AI prediction.

Problem is that I have to type the tag manually every time without a clear repository tags I have already created to simply tap on.

Another problem is that tags and notes are the same thing, I.e. ‘#booze’ yields the same result as ‘booze’.

I hope Monzo is developing this into a coherent system where tags have their rightful and fully fleshed existence cut out for them.

Right now it’s not there but it seems to be going in the right direction.

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Hi all :wave:
I agree about customizing the categories.

In particular, I was looking for a category where I can assign all the work related expenses.
For example, the food I buy for work, travels, etc…

So that I can figure out how much I am spending for work :briefcase: and divide the bill from my private shopping :video_game:.

Thank you in advance :slight_smile:

there is an “expenses” category which could be used - you would have to shop separately - work / home - for groceries to allocate to expenses , but you could then search category and find out how much you are spending exactly ?

Hi,
I was using “expenses” to divide my personal shopping from the "shared-house shopping”.
I will give it a try and I will use “expenses” for the work shopping.
Thanks :wave:

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Absolutely think custom categories are needed. Without it the budgeting isn’t as useful (and sometimes just completely inaccurate).

We’ll end up with loads in “general” because it doesn’t quite fit anywhere else. Things such as charity, gifts etc.

I actually think “general” should be removed because it doesn’t say anything. Everything should be able to get categorised, and if it can’t be, should end up in an uncategorised state rather than general.

Is there a reason why Monzo don’t have a charity category?

I suspect it is because the current categories fit in to a neat 4 x 4 grid!

I’d very much like custom categories, or at least much more fine grained categories than the current ones. I still use You Need a Budget heavily and would like to reflect the spending categories in Monzo that I have in YNAB. Maybe you could do some sort of survey for the most desired new categories and then add these?

Categories in my opinion are extremely limiting when organising threads on forums and as a result should be kept to an absolute minimum. Categories act more to restrict the reach of the conversation rather than to expand it.

What monzo should do is enable tagging within their discourse community instead. Tagging is a much more dynamic and natural way for organising data and will allow for a natural evolution of the organisation over time as interests change.

Also by tracking the popularity of tags gives monzo an insight to the few essential categories they should create since it’s based directly off user demand.

Check out this article on tagging within discourse communities. https://blog.discourse.org/2017/10/its-time-we-talked-about-tags/

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Good Morning!

Just a couple of suggestions from me - would be really good to select the names and icons of my own spending categories such as Credit Card Payments or Loan Repayments etc. Also, separating our House Expenses from Bill’s would be great.

A purely cosmetic one here - but it would be great to be able to add a picture to the standing orders like the Direct Debits.

Thank guys - great Bank! For the first time I am excited to get my salary paid into my bank and leave there instead of spending it all!

I’ve merged a number of threads here to keep the chatter in one place, be aware it may not be in chronological order.

Latest update on new/custom categories here:

Thank God it’s not a confusing mess.

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I’m so confused. Merging threads works but now this is just all out of whack and order…

I’ll go make a coffee to get my head around it :joy:

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Got anything stronger, coffee’s not going to do it :exploding_head:

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Sorry, I agree it is a mess,

There were a number of topics all about the same subject so I thought it may be best to merge (Not the best choice).
I’ve made some changes to keep it in chronological order as best I can.
I’ll have a chat with the rest of the Coral Crew on how to manage fragmented topics in future.

No more merging :no_good_man:

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Totally agree about renaming categories, especially in the world of joint accounts where you need both people to know what means what.