I’m not a frequent poster here by any means, but I’m an avid Monzo user and fan. I use Monzo as my primary debit card, and it has changed how I relate to money. For the first time in my life I now manage to save money each month.
Before Monzo my finances were a vague mess. I’d check my balance periodically at ATMs, keep a mental note of how much I saw, and then be horrified when I reached the end of the month into my overdraft. (There was invariably something “pending” that wasn’t reflecting in my balance check.)
Online banking was (and remains) a pain to use, and strangely fills me with anxiety.
Monzo changed all that. I’ve now paid off all my debts, am regularly saving money, and am living the life I want to without worry. (I even recently got the highest credit score you can in Experian – and I’m only earning enough to be in the basic tax bracket. I’m amazed, too.) I honestly credit Monzo with this.
And a big part of that is the Pulse Graph.
I know it’s buggy, and (at times) ugly, but it’s incredibly useful.
Maybe it’s because I use Monzo like this:
- I have my salary enter my old school HSBC account.
- At the beginning of the month I transfer the amount I wish to live on to my Monzo. (It’s a realistic amount that I can achieve – I don’t try and force myself to live like a monk.)
- I don’t touch my HSBC account again until the following month.
So my month is literally about keeping that Pulse Graph prediction from crashing into the bottom, and instead safely reaching the right side of the screen.
If the graph is predicted to run short, I “pull up” to prevent it from crashing: I’ll start staying in more, and cut down on luxuries, until the line evens out again.
Just doing this simple thing has changed my life.
Monzo (or @bruno ) if you’re going to scrap the Pulse Graph, then please replace it with something as equally useful.