Are you on iOS or Android? On Android, I have the option of 4 weekly budgets, under the “Custom” option when changing the summary start date
Currently, on iOS, you can change the payment period to be either “Month” (same day each month), “4 Weeks” (every 4 weeks on a [DAY]), “Week” (same day each week).
What are your payment frequencies?
Thanks for your reply guys.
Essentially id just like it to track from pay to pay which it estimates based on the existing pay date:
- for example if I got paid on 28th of Jan (and I select this payment) it would then automatically track to 27th Feb
One month I might get paid on the 28th and next it’s the 31st, but Monzo doesn’t allow me to input a custom date each month, or am I missing something?
Do you get paid on a fixed timescale - eg every X days or X weeks?
Or is your pay at the whim of your employer and they just don’t stick to a schedule??
Either way, if you are paid at a random time each month, then Monzo can’t help as it wants to know in advance, rather than ‘hey I just got paid’? If that makes sense.
I wasn’t sure what to do with mine because it’s not fixed timescales but it’s the last working day of every month so obviously every month is different, sounds like you could be the same, If you choose the last day of the month, then it gives you the option to pick working day before afterwards if that date isn’t one.
Probably not helpful to your situation but thought id share just in case
If you follow the steps I outlined you can pick a custom date every month. By default each month the current period will end as you describe and in circumstances where the subsequent payday is later in the month picking a new summary start date on payday will extend the previous period so that it all lines up.
It would be handy to know what your pay frequency is so that we can work out whether your suggestion is new or related to previous threads.
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I have the same issue. I get paid the last Friday of the month so the date of that changes anywhere from the 24th to the 31st.
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Yeah doesn’t look like there is a way to support that frequency, v.annoying.
No, i have mine set the 1st of the month but it’s still a little screwy so i don’t use the Budgets feature. Since Bill Pots were introduced i find those much better for managing things anyway, i can see whats Left to Pay and how much is in that Pot etc.
Thanks again for the replies - it’s incredibly annoying.
So for example, I got paid today - I’ve selected “pick the date of a recent payment” however after I’ve chosen it it estimates next month’s payment will be on or around the 24th.
In fact, I know when I’m going to be paid next (28th Feb) so I should be able to select this as a custom ‘end of budgeting’ date.
A simple change that would help a lot of people by the sounds of it!
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Curious as to why your pay date differs each month, please don’t feel the need to answer, but why is that? Down to the work you do? Or employer choice?
I have an option of getting paid weekly so therefore, depending on what life events are coming up, I may choose to get paid after 3 weeks instead of 4 etc.
It would just be a handy addition for contractors
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Ahhh I see, that’s a kinda unique one! I’m a contractor but pay myself a weekly salary.
Apologies for bumping a thread which is a few months old, but I’ve noticed a similar issue when I choose the monzo function to get my pay a day early.
In paid on the 25th or the closest work day.
This sometimes works but today I got paid early unexpectedly and if I request ah early payment too It messes my budget. I think in a year I’ve got less than 6 months of correct budget. While the payment is often a bit off by a day, we should be able to notice that payday is within 3 days of the stated day, they payment is coming from the regular payment contact, and the value is within a regular threshold (to eliminate budget reset for things like expense returns)
While it doesn’t effect my general monthly spending, it does effect my ability to historically track spend.
The monthly budget reset should happen when the payment is received and calculate the time until next stated pay.
An interim step, the salary sorter detects the payment is your big salary, include a button in there to trigger the month start from that payment and end the previous month to the transaction beforehand.
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I’m in the same boat - paid on the 25th or earliest working day.
This is especially a problem if there is a weekend or bank holiday. Let’s say the 25th is a Bank Holiday Monday, I’d be paid on the Friday 22nd. Now Monzo let’s me get paid early, so I claim it on Thursday 21st at 4pm.
At this point I sort my salary and my budget amends to reset on the 21st - to the next 21st. Of course, the next 25th does not fall on a weekend or Bank Holiday, so now the budget is wrong and unhelpful.
This happens every month, with the budget resetting at completely different times and lasting until a completely different date. It screws up reporting too, as sometimes IN/OUT will be effected by the ever changing periods of time.
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Easy solution. Stop using the get paid early feature…
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Pay date still falls on a different day so… That doesn’t help mate
Just reset it manually? Takes 30 seconds a month?
Mine will change by a day or three each month, I just adjust it and carry on.
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Agree that there must be a more streamlined approach to this than needing to jump in every month and do something. 30 seconds or not, a better CX is possible. If I want my budget cycle to run from one pay to the next, and the pay drops in towards the end of the month but may vary +/- 1 day it would be great to be able to trigger budget start as “when my salary comes in from ABC company”
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