Limit Spending for Limited Time

[alexs (Alex Sherwood)]

This is quite a popular idea, it’s been discussed here too

Limit Spending for Limited Time

Backstory of the problem: I was on a night out last weekend and my friends were saying how they daren’t bring their contactless cards with them because they can spend recklessly when they’re tipsy Not good for me, because I hate cash. Proposed solution: I was thinking it’d be useful if, while sober, you can set a limit for what you can spend for that night. So in effect, I’d say ‘after £20 has been spent, freeze my card until 8am’. Perhaps there could be some contingency (emergency pi…

As you mention

@nkaplatt

In my mind, I feel like this opens itself up to a whole load of potential issues but I think the premise behind the idea is justifiable.

the consensus has been that this isn’t feasible

Limit Spending for Limited Time

its a nice idea but in reality not sure it would work. the process when out of buying a drink starts with the barman/maid making the drink and then asking for payment. if the mondo card was ‘half frozen’ it would mean you would have to pay for it one way or another. the best solution i think is the budget feature in sneakpeaks. where after every transaction it makes sure you know you are over your budget limit!

but it’s good to have more people flagging the problem & challenging :mondo: to come up with a solution, rather than needing this instead

The "Forget about last night" button

lol, we should build either this or a “dignify my transactions” that replaces fast-food and pubs with National Geographic subscriptions and museum tickets

or this…

Last Time You Were Here You Spent X Alert

I was joking around with someone today about ways that Monzo could help prevent spending that’s probably not a good idea (they suggested a cap on spending at the weekends). I thought about sending a notification if you go to a certain merchant’s location & you spent a relatively large amount of money (compared to your usual spend), last time you were there, something along the lines of “:rotating_light: last time you were here you spent this much, this might hurt tomorrow”. The alert could be …