✅ Custom Category Creation

Definitely think this would be a nice addition

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I would like to + :100: this category (or add customisable categories).

Another use case for this is the annual self assessment return which requires you to declare what charity payments you have made each year. A Monzo report that made this simple would be amazing.

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From what I can tell, these are your customisable categories.

Out of interest, does your primary bank already offer this?

Can you make use of the tagging feature?

I haven’t seen any customisable categories - the version of Monzo I have offers defaults of General, Shopping, Eating Out, etc. Or am I missing something?

The much disputed suggestion is, that the tags you can add to transactions are in fact custom categories. Alas, it depends what your interpretation of a category are and indeed what your requirements are for a ‘custom category’. For example, you can’t add a target to a tag.

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I don’t use my banking app but I don’t think it offers that. I use a budgeting software YNAB (and have used other similar ones in the past) - I import my banking transactions into it.

I’ve tried tagging a few things and maybe that will be a workaround but I’m not quite clear on how it would work in terms of knowing if you’re coming up to max spend on that tag.

I’m trying to avoid using bank PLUS budgeting software (to eliminate the extra slightly tedious step!); it sounds like other people in these threads have similar reasons for wanting additional flexibility.

Fingers xd for someday… :wink:

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And that (add a target to a tag) is exactly what I would want to do! :slight_smile:

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I’m fairly new to YNAB, but it’s changed the way I manage my money. I don’t know if I could go back to relying on categories and not use a zero based approach. Do you think custom categories and targets added to it would move you away from YNAB?

Yep. Absolutely. Particularly because the downloading of transactions has to be done manually (as YNAB doesn’t auto-support UK banks). It’s that extra layer of steps I’m really wanting to get rid of!!!

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And split transactions or separate tags. For example, if I spent £20 at Tesco, I’d like the ability to put £10 to #Beers and another £10 to #Groceries. Not the whole £20 to either groceries, beers or both.

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For me I’d like a charity category - so that I can see how much giving I do each month/year.

Would be great if we could create some of our own ones. For example I would love to have ‘groceries’ and then ‘the stuff I didn’t need to buy but did and put it under groceries’ basically all my twix bars and coffees. Then I can see how much I spend on rubbish and could be saving. Maybe a ‘wasted money’ category for people like me :joy:

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Surprise winner so far - Income is top of the charts! This is an odd category as it’s almost a separate section for some people, and would definitely require user-definable sub-categories for all the different sorts of income people might have - wages, dividends, interest, rent, royalties etc.

For me personally Savings is the one I most want, along with some way to exclude that from spending, as it’s not really spending at all.

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It would be nice to have a separate category for fitness/sport and not grouped with health (e.g. medicines, clinic fees, etc.)

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Yes, dithered over that. Sounds like people would want a separate category for that. I’d be fine with that - as long as unused categories are not listed in breakdowns, they do no harm.

I realise this has been said many times, but the ability to assign custom categories would be great and extremely useful!

Not too impressed with Monzos insistence that their ability to collect data is more important than the users ability to customise categories.

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Interesting to see how far ahead income is here - this is the biggest missing category from my perspective, but I’d be happy to hear anything from Monzo at all on categories and what their plans are.

I’d like to add another voice to the custom categories crowd

We want them!

Perhaps a way to make it easier for everyone is to have customised sub-categories, while keeping the parent categories the same.

I’m not happy with the way Monzo is more interested in collecting data than giving their users a good experience. Do you guys sell this data on? Is this how you make your money? No better than traditional banks if so.

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I’d love to see a category or sub-category for Pets :cat:

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