Labs Feedback: Summary 📊

(Jami Welch) #731

We’re working on a different approach at the moment. We used the transaction as a quick MVP shortcut, but it’s clear it doesn’t work for everyone. Watch this space!

(Jami Welch) #732

Thanks to all of you who have tested Summary and given us feedback so far. We’re now at a point where we think Summary is ready to be enabled for everyone. That’s not to say we’re finished! at the bottom of this post is a list of what we’re working on right now, to improve Summary further.

Now that Summary is leaving Labs, we’re going to close this thread. We’ve set up a general feedback thread, which you can find here.

Here are some of the improvements we’ve made over the last couple of weeks:

  • We’ve adjusted the thresholds for when your Summary status goes from green to orange to red. We heard from a lot of you that you were being warned prematurely, especially early on in the month. This should feel a bit more realistic now.
  • We also changed the logic that decides whether or not to show a description of your current status. Sometimes it’s too early to know if you’re going have money left over or not.
  • We added a time ticker to your target progress bars, to see if your ahead or behind your monthly budget, and highlight targets that are about to run out by changing the bar red.
  • We stopped showing you the ‘Add your salary!’ message if you have eligible transactions to change you month’s start date.
  • We’ve added Transaction export, which now works with the custom start dates of each month.
  • At the end of each month we’ll send you a report giving you a summary of your Summary :slightly_smiling_face:
  • We added some more points to the onboarding tour, introducing targets, and excluding transactions.
  • We made sure that a negative starting balance is clearly negative.
  • We fixed up bugs where some transfers would be counted twice towards your Income
  • We fixed a bug where you could end up with short, 1-3 day long months.

As a recap, here is what what the current version of Summary includes:

  • Income, Spending, Committed Spending, and Pots summaries
  • Your monthly starting balance listed under Income (we heard this location doesn’t quite make sense, we’re yet to find a better home for it though!).
  • Calculation of ‘Left to Spend’ which takes your balance and deducts upcoming bank transfers
  • A dial which shows how much your your ‘spending money’ is left, compared to how much time is left each month.
  • The ability to start your current month from a recent deposit over £200 (more flexibility coming soon!)
  • The ability to exclude large one-off payments from your Spending section, targets, and daily budget calculation.
  • Categorising inbound Monzo-to-Monzo payments will now credit the same spending category, to handle people paying you back for things.
  • Spending Targets for each category
  • Target-aware notifications and monthly reports
  • Transaction export

What’s yet to come

Whilst we feel like Summary is an improvement over the previous version of Spending, there’s still lots we can do to make it better! Thanks to the feedback we received from you, we’re currently working on the following:

  • Predicting Direct Debits and Subscriptions, as part of your Committed Spending
  • Setting an overall spending budget each month
  • Clearer design for the Pots section
  • More flexibility over when your month starts and ends.

Look out for some sneak peeks soon for more details.

Thanks again, and happy budgeting!

We just updated our roadmap! (Last update: 14/8/18)
(Jami Welch) #733

TL;DR - here is your new home for feedback.

(Jami Welch) #734