I’ve always been a big advocate for Monzo. Even if things aren’t perfect, I have a lot of faith that very smart people are working towards making them that way.
However, I’ve been thinking a lot about how I manage and budget my finances, and I can’t help but feel that there is a tension between having a greater control over one’s finances and having greater visibility, at least the way Monzo envision it (although I’m not saying any other bank has got any better ideas).
Part of the problem is that the more I use pots, budgeting features, IFTTT, etc, the more crowded my feed becomes and the less I am able to analyse my spending.
Summary just doesn’t work for me because its categories don’t align with how I think about money. I don’t want to know how I spent on groceries vs transport. I want to know how much I spent on essentials (food and fuel) vs how much I spent on frivolous items I could cut back on (ready meals and Uber).
Does anyone feel the same?