I often buy a bottle of beer (or 3) all by itself on the way home from work, or on the way to a friend’s house. For me, it would be useful to put certain things into categories of their own; in this instance, delicious beer🍺.
In some cases I’d like to track what I’m spending on specific things. I don’t find that having Mars Bars and toothpaste under the same category is really useful. Perhaps it would work better for analytical purposes if these ‘custom’ categories were secondary to the automatic or ‘primary’ ones.
For example, chocolate, toilet paper and Hooch might all fall under the ‘groceries’ categories, but I might choose to sub divide them under junk food, toiletries and alcohol, respectively.
Sometimes when you go shopping you buy multiple types of item in the same transaction; for example you might buy a set of dinner plates alongside your bananas and Jack Daniel’s. This purchase, however would be filed under ‘groceries’ which is fine as a default.
But it might be useful to be able to add an extra category or two to the purchase, if you do wish. Going further, it might be nice to have to ability split the purchase into said categories.
Is there any possibility of having a few ‘blank’ catagories that you can label yourself? Or the chance to rename a catagories you don’t use? I like to separate my petrol from other travel so having a category I could rename ‘petrol’ would be great as trains could then go in travel instead of in with something else which can be confusing?
I agree with Tom and Monzo.
Having read a lot of category posts it seems the first feasible step is to have a few more categories that would benefit the majority of people. This is important as stated by Alex Clark, even if the budgeting works 95%, its the last 5% that stops it being any use.
A good guide for categories would be to use those required when applying for Mortgage - breaking down your monthly budget. So these cover all spending in full set of categories set out by finance industry/government guidelines.
For me I would REALLY like to see extra categories for:
Health / Medical
Gifts
As these are all reasonably large spending categories in my yearly budget that I wish to account for and are included in the mortgage application breakdown. For me the monthly targets just don’t work without there.
This is a good first step before allowing further breakdown of subcategories.
I’ve just switched to the current account and I’m using it in exactly the same way as I used the pre-paid, which is to use it for all my monthly discretional spending (ie everything apart from mortgage, utilities and other regular direct debits and standing orders which still go out of my traditional current account).
The only thing that would stop me using Monzo as my primary current account is the lack of more granular categories (as per this thread) but also the ability to say whether those categories are discretionary spending or not; so that I can easily keep check whether I am overspending on those sorts of things.
The proposed POTS functionally I don’t think addresses this unless I’ve misunderstood how that’s expected to work. Ideally I’d either want to be able to pull up spending split by discretionary/non-discretionary, or put money into a pot at the beginning of the month and spend out of it until the end of the month.
Hi guys,
What about setting up a customisable label system (something like email labels in Gmail, for example) for the transactions? So that we could create our own labels and possibly assign multiple labels to a single transactions? For example “house” and “bills”, or “house” and “repairs”… I have in mind how Gmail labels work, and I think the same system would work very well for transactions too!
I’ve moved your post here as it’s similar to the request for custom categories.
You can actually label things now using the notes section under each transaction. So in your case you could put ‘House Bills’ or ‘House Repairs’ in notes - or if you fancy and
These notes are all searchable too.
This is a good workaround until such time that categories may or may not expand.
using notes as labels is a good (temporary?) workaround, thanks! What I am
still missing is the report of the expenses under the different notes, but
maybe there is a simple solution: would it be possible to add notes to the
CSV-exported transaction list?
Currently money I spend on buying booze at a pub, bar either goes into entertainment or eating out. Would be good to have a separate category for drinks/drinking for times when I’m just drinking out. Would really like to keep a better track on the amount I spend on alcohol.