I recently went to Prague on holiday for a few days. I loved the welcome notification when I arrived with the exchange rate. I pretty much exclusively used my Monzo card whilst there, too.
I was just wondering how others use the Holiday category. Do you just mark flights, hotels, car rentals under Holiday or do you mark everything you used your card for when there as holiday? Eating out, buying drinks, duty free, etc?
I realised it massively threw out my Eating Out and Shopping spending history and that when I arrived I kinda wanted to mark it all as Holiday - but that was too time consuming.
In the future will Monzo perhaps be able to âbundleâ all transactions made abroad in a trip and offer to group this under âHolidayâ but then have subcategories of the existing categories within that bundle?
For sure. Even better if when you returned from abroad it would do it automagically. The report notification is cool but itâs only temporary(?) and it would be nice to have a mini breakdown that was permanent.
Holiday category is very problematic. Monzo knows about this and is working on a fix.
For me, the Holiday category should be replaced by Travel (flights, car rentals, etc), in combination with a toggle to mark any expense as Holiday, regardless of its category (see above link at 9:30).
The Welome notification is helpful but itâs not triggered for holidays whithin the UK as far as I know.
I just use it for the flight costs (and hotel costs if not staying with family or friends) and things like entertainment (taking kids to a fun fair) but I categorise purchasing groceries or eating out just as I would normally do.
This makes most sense, as youâd have to eat something even if you werenât on a holiday. I just usually update my spending targets accordingly if I know that because Iâm on a holiday Iâll spend more dining out.