For me a category “Transfer” would be good as some things I do not regards as expenditure or income. That could be an internal transfer to/from main account and a pot, or to/from Monzo account and a secondary account
Starling have commented in their community this weekend that they plan to introduce custom categories.
Personal care as a sub cat for health and fitness, or maybe a health and beauty as a stand alone category.
Occasions (eg Christmas and birthdays)
Repayment (ok bills covers this but if you want to pay extra)
School (“voluntary” contribution, Uniform, trips etc)
I think custom categories is the only solution
The more I think about this the more I think it’s the case. There are too many different priorities and this is not something that Monzo can adequately address on their own - for those that want to use this data. For Monzo to use this data it needs to be accurate, not polluted by people misusing categories because of the inadequate ones available (as they do now).
A nice start would be hiding inactive categories in the list, then at least I won’t have to look at stuff which is unused and hopefully they’d be less unwilling to add new categories for niche requirements.
Yep, nowhere at the moment to put medical expenses such as prescriptions, dentists payments etc.
Create Custom Categories
I’m looking forward to getting that free toy rocket
I think I know what is this… # tags are clickable now
Add a # tag to any transaction in the notes. It will act as a filter. I really like this and it will help people have multiple tags for the same transaction.
Anyone making use of the custom #tags?
Taking a look in the sneak peek section of the app, I can see that there are two new categories confirmed to be coming these are:
- Personal Care
I currently use Monzo for my ‘Fun money’; every month I transfer £300 to my Monzo and that’s my spending money for the month whether it’s clothes, take away, eating out, pub etc.
I’d like to ideally just use Monzo for all my banking needs, but doing so makes my ‘Fun money’ less transparent.
While I can allocate a target to things like ‘Eating out’ I don’t want to set a separate target for eating out and one for shopping. Some months I might spend less on shopping and more on eating out. So it’d be great to just set my own ‘Fun Money’ category and therefore target.
OR Monzo adds more categories, maybe one that is just ‘Spending money’ or ‘Fun money’ etc
This is where primary and secondary categories would make sense to me.
Hey everyone, you can now add custom tags to your transactions!
Tags work in a similar way to categories, but you’re completely in control of what they’re called, and which payments they belong to.
Let us know what you think!
Is there any movement on providing these? I just joined up and while I love the immediacy of Monzo, the lack of ability to improve the categories is a large issue for me - they are simply to broad to be useful in helping me budget/understand where my money goes. Things such as “shopping” and “bills” just isn’t at all useful at all to me. (I"m used to YNAB).
Please, pretty please…?!?
Please, pretty please tell me that you’re going to add customisable categories in the nearish future? I’m only a few days into Monzo, but I honestly can’t see myself using it as my primary bank (as much as I’d love to, really!) until this happens. Really need to see my spending/budgeting in ways other than broad categories…
(Please, pretty please…)
Its obvious that the ideal solution for us, the consumers is custom categories. Whether or not Monzo will provide this seems unlikely at this stage. Although, I am still hopeful that we’ll get custom categories at some point!
Any desktop personal finance app provides for custom categories. My first action when trying any of these programs is to delete the standard set and use my own.
Agreed. I wish Monzo would say definitively yes or no if they are going to be providing this function…
Come on guys we don’t need categories now coz we have #tags.