Making Monzo: Plan ahead better with flexible budgeting tools

Making Monzo
21

Ta-da! :tada:

From today you can:

  • Choose the date you want your Summary to start each month, without selecting a recent payment
  • If your Summary is due to start on a weekend or bank holiday, you can tell us if you want to make it earlier or later
  • Track your spending in four week periods, because lots of you get paid every four weeks, not every month
  • If you set a custom period, you can ask Summary to start on the 1st of each month again

Let us know your feedback below.

17 Likes
22

Nice one! My budget has readjusted accordingly based on by pay day being the working day before. Good work!

23

Just set this to accurately reflect my payday (every 4 weeks on a Friday). Much needed. Thank you!

24

So I’ve tried to set this up (31st of a month, or if not, the previous working day) and I keep getting this red screen. Any reason?

PNG

25

Best update this year!

1 Like
26

Presumably if we set our payday as the 31st of the month then in shorter months, the app will default to use the last day of the month?

3 Likes
27

I think mine is broken? :see_no_evil:

I set everything correctly, I’m set to be paid on the last working day of each month. This month I will be paid on the 30th.

I’ve selected the 31st as my date and the working day before if it’s not a working day, yet my summary wants to reset on the 29th not the 30th - I thought the summary would reset on the day of pay, not the day before :frowning:

Apologies if I’m just understanding that wrong :innocent:

Screenshot_20181120-135033

1 Like
28

This is great progress. Hope that the weekly feature will be released soon.

29

Is this meant to affect the current budget period? Because I choose ‘31st / prev working day’ and the period is still marked to end on the 29th…

30

Is this not because the last working day in November before you are paid is the 29th?

31

Works great for me!

32

still no weekly payments

1 Like
33

The 30th is Friday, a working day?

1 Like
34

When you say 31st do you mean last working day? Because I’m last working day, so my current period ends on the 29th.

35

Custom -> 31st (as it is the last possible day to be paid) -> The working day before

So this month would be the 30th, Dec 31st but back in Sept it was the 28th.
Last working day before the last day of the month

36

You are supposed to input the day that you want the new summary period to start, not the last day of the previous one. The new period should start on your pay day and run to the day prior to the next pay day

1 Like
37

Correct!

2 Likes
38

Yep, understanding it wrong. The start of a new summary is on your pay day. Which this month will be the 30th. The previous months summary has to finish the day before, on the 29th.

39

Your next period will start on 30th Nov (November doesn’t have 31 days, so we fall back to the last day of the month). This means your current one ends on the 29th Nov.

Hope that clears it up a bit! :slight_smile:

6 Likes
40

Great job on this Monzo. Recognised that it was an issue from user feedback and have implemented a great solution for most people. Sounds like there’s a few requiring weekly pay days but I’m sure that will be on the agenda next.