Great to see targets are back in Summary.
Would it be possible to allow us to enter the amount for each target via the keyboard, rather than having to press the toggle numerous times @Jami? It does get tedious!
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As a freelance filmmaker, I donāt actually pay myself a salary as it is all commission work. At the moment I wouldnāt be able to use the features as I donāt have a payday as such.
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Hi
Unless Iām missing something (and I don;t think I am) the spending categories still donāt take into account incoming monies and show and overall + or - figure? 
Iām on Android but trust that isnāt the issue!
Thanks! 
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Iād like to ask, how is the predicted leftover amount calculated? Does it get more intelligent over time? I havenāt seen anything about how the algorithm works.
I was paid on Friday and had a particularly heavy bank holiday weekend, out Fri/Sat/Sun/Mon 
. So for a while there it was telling me I was going to run out of money, when I know really Iāll have hundreds leftover. This week, itās clawed itself back to tell me i will have Ā£100 left or something. It goes up a fair bit every day.
I literally only opted in right before the BH weekend, so I can understand it has no data to work with, but it got me thinking. Say Iāve been opted in for six months. Does it consider my average spend over that six month span? Ie, lets say Iāve spent 4800 over 180 days excluding direct debits, so I spend an average of Ā£25 per day, will it consider that, or does it reset every month so that if I get paid on Friday and spend Ā£200 on Fri/Sat night, it averages that I will spend Ā£100 a day for the rest of the month, until I dilute it with future payments?
Does / will it consider a 5 weekend month vs a 4 weekend month? (naturally, Iāll spend more money if itās 5).
At the same time, if I make a big purchase at the start of the month, it needs to be factored in somehow. Might be interesting to see something like amount available to spend based on 6month trend, 3m trend, 1m trend.
Itās a nice feature, but unless it improves over time and becomes intelligent enough not to be thrown off by one heavy weekend or a weekend away etc, itās never going to be a good representation.
I do know I can exclude purchases, but rather than decide how much of a weekend to exclude by myself, Iād like to see some analytics behind it at some point in the future.
The other thing, which was noted in the main post as something to come ā Iād like to be able to add subscriptions like Spotify etc to be excluded from spendable balance.
Maybe Iāve got this all wrong so Iād be keen to listen if someone can tell me how it does work!
P.S. Canāt wait for targets on Android so I can use these together!
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I literally just read that thread 30 seconds ago wondering if there was any update!
Wooooooo 
How? 
I see it on mine, must be rolling out slowlyā¦
Hey all.
Now that Android v1.27.1 is being rolled out to 100% of users, we have enabled Targets within Summary on both iOS and Android (
) .
Youāll need the newest version of the apps for Targets to work.
This first version just has support for category-level spending targets, which work pretty similarly to how they did before. Weāre in the process of working out how best to include an overall spending target, without it getting confusing with Committed Spending and the Summary dial.
So treat this as a V1 of targets within Summary, and let us know what you think!
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Hey,
Right now the algorithm is pretty dumb. It just compares the % of available (not Committed or put into Pots) money spent in the month so far, with the % of time elapsed so far. It assumes a relatively consistent daily spend, which is why a couple of big days will send it seeing red, even though you know youāll be fine for the rest of the month.
Weāll be updating it to be less quick to draw conclusions about running out of money soon, as itās clear that it is a bit too quick to judge right now.
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Yay!
Predicting Direct Debits (and online subscriptions) is on the list. I agree, itās the piece of the puzzle thatāll really make Summary sing!
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Hey Aaron,
If you categorise an incoming Monzo-to-Monzo payment (anything other than General), itāll credit that Spending category, but other income will sit within the Income section for now.
We wanted to keep incoming payments that arenāt explicitly paying you back to Spending separate, to provide an overview of your Income vs. Committed Spending and day-to-day Spending.
Where would your income (salary, wages, monthly allowance) appear in your ideal world?
Hey Jami, thanks for clarifying. Thatās exactly what I suspected it was doing. And thatās absolutely fine as an MVP 
Iām excited to see what you guys can do with it as time goes on. The more data you build, the smarter it can be. Off the top of my head things like :
- Choosing a 1/3/6/12 month trend on your spending as a starting point, as opposed to the current month option we have now
- Considering weekday vs weekend spending, including number of weekends in a month as I mentioned earlier
- Ability to intelligently recognise one off / abnormal spending patterns and assigning less weightage to these transactions
- Automatic targeting suggestions based on spend history (I tried to set targets just now and realised that, really, I donāt have a clue what I should set it to right now.
I really feel that intelligent spend predictions are what could put Monzo on the map to people who are less interested in some of the more gimmicky stuff some of us love
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Hey! You mentioned in a reply that you are looking at grouping categories to have a target for multiple categories combined. Is this separate to overall spending budget? Is it something thatās been looked at as part of version 2 targets, i.e. pretty soon, or later?
Just trying to decide if I should start catagorising everything I want to group in shopping for now so I can start using the targets feature with my budgeting styleā¦ Iām just sad Iāll be ruining the auto transaction catagorising for future by overriding it.
If grouping is currently being looked at though and coming soon Iāll hold fire.
Glad to have the targets back! Do you think we could have the coloured bars back for the respective targets though, or was that axed because it was too confusing and the main ring already reflects this? I was just thinking I might be spending too quickly in one category and not catch that, because I am spending below target in all others.
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Hey Eve,
We wanted to avoid too much multicoloured overwhelm, especially with the dial - but got feedback that itās hard to check progress of a current target.
Weāre making some updates to Targets now, which will be in the next app updates.
Weāll display a ādays leftā ticker along each target progress bar, and highlight targets red if theyāre critical.
Hopefully this strikes a nice balance
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Are you referring to the Holidays and Expenses toggles? Those will come a little later, as weāre focussing on some more pressing fixes to Summary first
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That sounds like a good workaround, thank you! Just need to be able to track how quickly Iām spending in each at a glance
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No, I was talking about combing categorises under 1 target. For example Ā£100 divided between entertainment, shopping and personal care, but not necessarily Ā£33 on each.
Heyah, I just use the past months bills to roughly indicate how much this months will be and make sure at all times to stay above that amount minus the bills that have already been paid. So not much at the moment 
would love to be able to have a pot that I put my bill money into every paycheck and it automatically comes out of that instead of the main balance
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