YES, agree! I have several transfers into my account per month that are currently showing up as income, which is just not the case. I should be able to credit that amount back into the category from which the initial expense came.
Another thing that doesn’t make sense to me is the “committed spending” section. The only things that show up in there are my standing orders, but many of my direct debits are also committed spending and are the same amount each month (council tax, energy bill, water bill, broadband, etc). Would really love a way to mark these as “committed” so that they show up in that category and are factored into the overall view of what must be spent versus what is optional.
Are you still experiencing the issue where a transfer is counting under
Starting Balance? If so, can you DM me your Monzo email address please? Then we can investigate. Thanks!
That’s the plan, for Direct Debits, and Online subscriptions like Spotify etc!
Hey! Thanks for checking back! I just checked and it’s been sorted!
You can’t change your income to a weekly basis! It picks up wages but automatically sets it to monthly.
Genuine question. Do people actually get paid late? I thought most employers pay the day before any weekend or bank holiday.
I think from some user research they found some people do, its a very small percentage of people but still I guess they need to cater for them too
See here mate;
I used to work at a firm where money due Saturday or Bank Holiday Friday was paid the banking day before, money due Sunday or Bank Holiday Monday was paid the next banking day.
The issue is that most people are paid early when their payday falls on a weekend/holiday. If they then want to budget from that early pay day, their next salary payment will be longer than a month away. So it’s not technically ‘late’ but it’s further away in time than usual. We want to make sure people who want to budget payday-to-payday don’t get caught out by budgeting with too few days in mind.
I would love this!
I have the Monzo iOS app (version 1.9.34), and I currently have summary enabled.
What I just noticed is, when I first launch the app, the tab is titled “Spending”, however after I tap it, it navigates to the Summary view, and at the same time, it changes to the correct title. Which then stays like that until I close the app again.
I’ve been assuming that’s simply due to the ‘labs’ nature of the functionality since it’s effectively overloaded on top of the standard Spending screen at the moment. Doing a full integration at this point (so as to selectively change the name etc) doesn’t really make much sense to me since it will probably be wasted work in the long run when Summary is rolled out properly.
Hey @Jami - firstly just want to say how useful the Spending section has been to be this month. Although I budget by just leaving a small amount of money in my current account (to act as my day-to-day allowance) I have a habit of overspending near the end of the month. This month I’ve been much more aware of how I’m doing and have been keeping spending to a minimum in order to see the circle go green!
This has probably been mentioned a hundred times (so apologies if you’re repeating yourself) but is it possible to set a custom budget date even if you’re not paid on that day? Eg. I get paid the last working day of each month, but all my bills come out on the 1st, so I want to start budgeting from that day every month (even though that’s not when I’m paid). That way it also solves the problem of me getting paid different days every month, as I’ll always start budgeting on the same day no matter what.
Leave everything alone and it will default to starting on the 1st of the month. Once you’ve changed it, however, you can’t currently go back again.
Ahh, ok - I set my pay day when I started using it this month, so probably won’t move to the 1st now assuming a fix for this is on the way?
I’m pretty sure that’s been said further back up the thread, yes.
Fair enough, it’s hard to see all 657 posts.
yeah, this thread has become a bit of a biggun!
I would also like this to be an option, I get paid weekly via BACS!
Going to switch this back off for now until it gets developed a bit more as even though it looks promising… without targets and being paid weekly I seem to be loosing functionality rather than gaining any! (personal opinion - will check back later!)