Daily Budget

The Monzo app’s targets functionality works differently to what you’ve described but I thought I’d mention it, in case you’re an Android user. Here’s how it works on iOS -

& it’s on the way for Android users, they’re on the roadmap here :tada:

Perhaps some of those features could be included when the targets are reworked, after the current accounts launch.

I’d like to be able to factor in how much I want to save each month (virtual pots will also help with this) & see how much I can spend per day, in order to meet my budget :heart_eyes:

I used YNAB until I got out of debt (then I moved to the UK from Australia and the travel blew it out of the water). Their approach of assigning dollars to your various life categories at the start of your pay period works really well. ‘give every dollar a job’ as soon as you receive them.
the difficulty with YNAB is it only works on a month-to-month interval. Monzo could jump in by offering a service based on users’ pay-to-pay interval. If we could assign all our money to our budget categories up front (bills, rent, etc) then monzo could calculate what we could spend daily with what we have left.


I used to use YNAB too. I eventually got put off by having to do lots of manual entries for all my transactions.

I think those kind of budgeting programs are great if you can set aside some time each week. I’m more excited with Monzo as I’m hoping it’ll be like an automated version of YNAB.

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YNAB means “You Need A Budget”.

YNAB is a multi-platform personal budgeting program based on the envelope method. It was noted by Lifehacker in 2013 as the most popular personal finance software amongst its readers.

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I use “Pariti” to see when my bills are coming out… to be honest I still use it alongside monzo, just to keep on top of what will be coming out of my account! I find both really useful!


Yeah there’s definitely a lot of work involved with YNAB. You have to be motivated to get out of debt of save for something specific - it’s very much about being intentional with how you set aside your money. If Monzo could automate most of the easy bits (for example - pre-filling regular expenses), but still keep some kind of intentional ‘setting aside’ mechanism every pay it’d be the perfect product. Or if YNAB could develop a plug-in for Monzo that’d be perfect.

Yeah I think bank integration goes a long way to making YNAB less work intensive. I’m kind of hoping that monzo and other such banks will make the need for YNAB irrelevant.

I use two apps in conjunction with my highstreet bank - one called ‘Pennies’ (for the pro-active budgeting aspect) and one called ‘Spending’ (for the retrospective tracking & reports). The pennies app lets you switch between a ‘daily’ view and whatever term defines your budget i.e. a ‘Fun’ budget, set to expire/renew after a month shows you e.g. £540 left for the month and £19 left for today. Or a weekly food budget shows you e.g. £80 left for the week and £11 left for today.

I see that the ‘targets’ feature of Monzo keeps you updated month to month but it would be great to set weekly/custom/one-off budgets as well because you might want to be a bit more eagle-eyed with tracking expenses.

That feature’s on it’s way -


possibly soon :tada:


Hi Naji,
I’ve developed a spreadsheet that I use in the iOS Numbers app that I think could be used as a model for an in app feature similar to all these apps. I can email it to you if you like?

I joined the forum to post about a daily budget feature and see its being discussed already :slight_smile: If it could be possible to introduce a daily spend target that would be ace. Due to the nature of my work, I have a day to day budget… provided I stick to it, I’m in financial nirvana :slight_smile:

fancy sharing it on here?

One of the things I miss from the prepaid card is the reminder notification of how much you spent today.

It’s a pity it’s not on the Current account right now. :frowning:

@acp Sounds great! Feel free to share on here! :slightly_smiling_face:

Notifications should be fixed today and as a result, these summary notifications will return :raised_hands:

Correction - general notifications will be back today but unfortunately spending reminders like this are something separate so we will have to wait a little longer for them to arrive on the CA.


@Naji @leonardh I can’t as it’s an Apple .numbers file. But here are the screenshots with notes.
It’s fairly simple but it works so well and I’ve been using this ‘manual’ system for 7 years and made
many tweaks and changes. (Obviously I’ve used example figures for this demo). :wink:

This is the main budgeting section. The outgoings in this section are mandatory/recurring monthly costs.

This is the day to day management section, the bit I use most. At the moment I manually type in every spend as I spend it. Doing this means delayed charges (TFL, Online, etc) are accounted for immediately to avoid nasty “oh yeh I forgot I spent that” moments.

I would be interested to hear what you all think.

Obviously, if Monzo integrated this model into the app it would save me having to do it manually. But I’d still want to have a ‘daily notes’ or ‘upcoming charge alert’ for those delayed spends. I.E. Put a spend into a day manually, as a note…?


I use Bluecoins on Android - it’s pretty detailed so there is a bit of a learning curve but well worth it once you’ve got it up and running.

It does require you to manually input all transactions, transfers and income (recurring transactions can be automated) but I actually find this useful. It makes me more aware of what I am spending / have left to spend.

@acp that looks very cool (nothing like some good spreadsheet geekery :nerd_face: ).

Would be great if you could work out how to export & share as an excel readable file.

Numbers can export to Excel: https://support.apple.com/en-gb/HT205391

@effsee @Naji @leonardh Right, so I’ve put the original Numbers file and a converted Excel file (yes, numbers can export to excel but, although it’s great for data, excel is awful for daily app based user interaction) which is limited a bit.

If you have an iOS device I highly recommend you use the original version in the Numbers app.


Let me know if you have any issues.


Has any one tried Pennies or daily budget? I wander if Monzo can encorporate similar features. Where is gives you how much you are allowed to spend that day or week if you want to meet you targets