So here are the thoughts of the @Peter_G jury!
1. Net Worth:
I’m so down with my forum compadre, @davidwalton (obvs):
I really want to do this too. My pain point is a) having all my various assets and liabilities all in one place, updated is as real time as they can be, and b) doing something useful with that.
I’d love a tab called Wealth that showed a line graph of my assets and debts over an extended period (so years), with the gap between them either coloured red if I’m in negative equity or green if I’m gaining. And I’d like to see a breakdown in the bottom half of how my gains are increasing year on year (and, if possible, what’s driving that). God tier would be to be able to see how my personal wealth is performing against a) an average stock market performance (e.g. World ETF); b) inflation; c) the Bank of England base-rate / average savings rate in the UK.
To do that I’d like to be able to plug in my property details and have the Zoopla (or similar) API return the value of my property, my mortgage picked up (
), all my savings (need manual accounts for this), and investments in Monzo (competitive rate please) and/or the ability to enter your holdings and have Monzo track its worth.
2. Goals:
I’m not talking about the goals against pots or Starling / Simple Goals. I’m talking about something a bit more fundamental.
I want somewhere where I can list the things I’m working to. That might be fundamental financial plans (like an emergency fund if I’m out of work), or debts that I’m trying to manage (pay off loans or pay off the mortgage early), or nice stuff (deposit for a house, a new kitchen or a new phone, university funds for each of the kids).
The problem with things like goals in Pots is that they assume that there’s one account per goal. I don’t work that way. Instead, I want to be able to prioritise my goals and then assign my savings / investments to all, some or none of them. And then I want Monzo to create some funding schedules for me to be able to fulfil the ones that aren’t already funded.
For example, I want to give each of the kids £10k for university. What’s the due date for these goals? What would the weekly/monthly/yearly funding needed to achieve that? Then I want Monzo to (if I choose) set up standing orders to make that happen. Or alternatively just track progress.
Then, for short term goals (like buying a new phone or saving for a holiday next year) I’d like to be able to have Monzo manage the transfer of money between accounts and then payment without it upsetting the monthly budget in Targets Budgets.
3. Spending Over Years:
I want to see insights as to how my spending has changed over years!
Give me graphs that show total expenditure by year, or averages across years.
Actually, I think all I’m asking for is a Years view in Spending - so we’ve got months (month view, broken down into weeks) and years (year view, broken down into months), but I think I want to see more. We’ve not got the data for decades yet, but certainly I want to see trends across years…