Custom Category Creation

My idea is kind of related to custom categories, I’m not entirely sure it fits here bit I was pointed here from twitter so will post it here anyway.

With Christmas coming up I think a really good feature would be a category (custom category?) that has a budget associated with it. The use case is I have two kids and I want to spend say £200 on each. Every time I buy a present I’d mark it as category “Kid A” or “Kid B” and the app would say “You’ve spent £82 on Kid A and have £118 left to spend on them” or something.

This would be agnostic of months or anything, maybe you’d set an end date on it (Christmas Eve or something) at which point the category would “expire”.

I just think it would be a really good way of keeping track of what you’re spending at Christmas which is probably the most expensive time of year.

However this would rely on splitting a single spending instance across multiple categories but I think the UX for this could be made easy. In the app just select the transaction and change category like you do now but allow multi select on the categories, then if you select more than one you get another screen with sliders to select the amount for each one, the bottom category with be the “main” category and changing the sliders on any categories above it with take away or add to that bottom one which doesn’t have a slider and is just “everything not selected in the other sub categories”.

If that makes sense?

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How about 2 pots one for each kid each with £200 in it?

It’s not as detailed as what you’re looking for but it might help in the meantime?

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Thanks for the suggestion. However £200 was just an example, it’s likely that we’ll be buying stuff over a few months and a few pay days so likely won’t have all the cash at the start.

I can relate with you there. I have a pot that has a set amount go into it all year round for different types of presents.
I’d be up a creek without it when it comes to those unexpected birthdays!

I have a Gym Payment that goes out and put it under the Personal Care Icon, ideally I’d like a Gym/Leisure Icon as I don’t really think Personal Care covers it?

Lest they be forgotten…

and

Both good examples.

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Dancing!

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Never take up dancing it eats up all your money!

Thanks for your suggestions :heart_eyes:

I think we’ve considered both at some point and we will definitely keep them on mind for future iterations. Problem with them (and the reason we don’t have them yet) is that both require some effort from the users. We’re aiming to build something that (ideally) will require zero effort on your side… so we have a tricky trade-off here, should we give you something very simple knowing that we are leaving some cases out or should we try to cover every edge-case and risk building an overly complex product? We’re still figuring out the right balance :slightly_smiling:

That issue is so easily sidestepped!

Have a simple product at face value, with hidden ability to create custom categories!!

Those that feel the need, will discover the ability (to create custom categories), by asking in chat or searching

The post you’re replying to is years old

The post you’re replying on is a year old :stuck_out_tongue_closed_eyes:

16 minutes

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Then where is this simple feature??

Simple according to who?

It’s in the pipeline apparently

Stuck behind the Plus fatberg?

Is it still in the pipeline though :thinking:

I hope so :pray:

Revolut has just introduced custom category creation. User can create custom name and also set a custom icon (chosen from pre-difined list though) and icon color. Hopefuly, Monzo will do the same.

Ohhhh thats interesting.

Hopefully will mean its timeline will be ramped up a little bit more at monzo

Hi, would like to add my voice to the list requesting this improvement - I could really do with a half-dozen or so user-definable categories, so I can separate out - for example in my case - charity, work expenses, personal purchases, plus a couple of other. We moved our joint account to Monzo because it seemed to offer the opportunity to better categorise our spending, but it only works for the 50% of spending that we can correctly allocate!

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It’s so obvious that this is required to do the job properly. I suspect this may be being saved for a paid for option.