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”
2 Likes
I use both the “get paid early” feature and the budgeting features in Monzo. If I accept my salary early the day before I am officially paid, the “you finished the month with x” figure in the spending report is incorrect, as it includes the salary payment.
Eg, on Thursday, I start with a balance of £100, get paid early and end the day with £200. My pay period officially ends on the Friday, so when I get my spending report on the Saturday, it tells me I ended the period with £200.
What should happen, is that when I accept the salary early, the budgeting period ends, and my spending report tells me I ended the period with £100. Any spending on Thursday night after getting paid comes out of the new budget that started at 16:00 (or whenever I manually accepted the payment).
There should be like an “adjust budget button” after the get paid early graphic.
That way you could just if you want to move this summary start date to when you get paid (most logical) and keep the same theoretical end date.
3 Likes
Just need summary to be triggered by an incoming payment from X over £Y would be amazing
2 Likes