With this, you can use the information to show things like “You’ve spent £25 on cigarettes / takeaway this week, in a year that equates to £1300.” Think I can safely say that I spend way too much money on take away, and with that visual eye opener it may make me think twice before clicking that order button.
Drinks go under entertainment for me also.
Going out for some drinks to me is a social , entertainment type thing.
I also put drinks under entertainment. Unfortunately, my drinks spend tends to dominate the category to the point that everything any other entertainment spend isn’t noticeable…
It seems really inconsistent whether a bar defaults to Entertainment or Eating Out. I use Eating Out (since all my non-alcoholic drinks go there too), while Entertainment is more for books, cinema etc.
Just had the first time I’ve thought “I don’t really have a good category for this”. I just contributed some money to a collective fund to buy someone at work a gift and I ended up defaulting to the “Family” category. So I could really do with a “gift” category, but I guess using a #gift tag would also work…
Create Custom Categories
I would love to have a drinks category as well! It helps to get a better overview of leisure spend.
Create Custom Categories
I found it really strange that there isn’t a drinks category too. Mine also goes under entertainment but again it is the main thing that goes into entertainment and makes cinema trips etc indistinguishable.
When buying cigarettes I usually buy other things with it, like a drink or something. Monzo won’t be able to pick up the cigarette costs alone. It usually lumps it with ‘Shopping’ as I buy from Sainsbury’s or Tesco etc.
It might be useful if we could split an expense across different categories, that way we can record our separate expenses from within the same purchase.
Hopefully this can be integrated once they get similar logic for the bill splitting finalized perhaps.
Would work in a similar manner only you’re splitting it with yourself via different categories.
+1 for a drinks categories, like to distinguish my nights out/pints with the boys from my dates with the missus budgets
Hi whilst I think the existing list of categories of spending is ok I do think some of them are not accurate enough for what I need.
It would be really good if each user had the option to customise their own categories.
I play 5 a side 3 times a week which costs me money and have a monthly gym membership. I’d like to create a fitness category. Not everyone would need this category which is why making some of them customisable would be great and each user would have specific categories that are meaningful to them.
What you think?
I don’t mean to shoot down your idea (I would also like them), but unfortunately custom categories has already been discussed and for now we have to make do with #tags on transactions.
Edit: I’ve been budgeting for around 3 years now and have actually found less categories improves budgeting.
More categories tends to mean you justify costs to yourself, sometimes with silly categories like Coffee or Netflix. It’s easy to see that you spend less than £20 a month on either of those, but bundle them in to Entertainment and Eating Out and it soon all adds up.
And before you tell me it’s “eating out”… I don’t eat my coffee
Personal care then
My son likes eating instant coffee (he’s only 2). We try not to let him but he can get it by himself
Cool. I tried weaning my kids on Marmite and curry, I should try coffee as well
Custom categories would be great! The personal care category is good but it would be better if you could have a drop down assign things like dental, prescriptions, hair cuts etc
Would love to see the ability to add custom catergories, or just deep-dive catergories like others mentioned. By adding catergory precision, you could keep the plan to add cohort comparison analytics.