Making Monzo: Plan ahead better with flexible budgeting tools


((╯°□°)╯︵ ┻━┻) #82

I assume that is an oversight on Monzos part because if it is working off when money hits your account there doesn’t need to be a backup where you select a day either side?

Unless I’m misunderstanding how this part of it works :man_shrugging: so if someone could clarify that would be ace because I too get paid in the same way as @Codf mentioned :slight_smile:


(Joe) #83

They said further up that they dont have ‘last thursday of the month’ covered off yet but that is coming soon


(Adam) #84

My understanding with this new update is that, for example:

  • You set your payday to be the 28th of each month and let it know that if the 28th of next month lands on a non-working day (e.g. a Saturday) you expect to get paid on the previous working day (e.g. Friday 27th in this example).
  • Summary view then can adjust your budget month to start on the 28th of this month and end on the 26th, with next month’s budget starting on the 27th as that’s the day you actually get paid

This means we should get a more accurate spending wheel (as previously it assumed you would get paid on the 28th regardless of whether or not this is a day banks would process your pay).

At the moment you can’t set anything other than the actual date of the month you get paid, so people who are getting paid on the 28th or 15th or whatever of the month can set this up.

Those of us who get paid on a specific day of the week, like the last Thursday of the month will hopefully get the option to set this in a future update.

Clear as mud?


(Rubén Durá Tarí) #85

This is correct :+1:


(Rubén Durá Tarí) #86

Can you give it a shot now? I believe it should be working again for you.


(Sacha Zarb) #87

Super, working now! Thank you


(Steve) #88

Any idea of the timescale involved - as a budget user I’m keen for this feature to be live!?


(Marcus Nailor, Hot Coral Detective) #89

It seems that I have the ability to tweak historic date ranges for my summary… But it’s rather limited (previous summary months shift slightly if I change my custom period to mid month or something) - Not sure if that’s the intended behaviour?

Also, more importantly, October is broken for me :yum: somehow I can view 31st August - 27th September … Then 28th September - 21st October … And finally 22nd October - 30th October :thinking:

My current summary runs from 31st October - 29th November (paid on the 30th November) :blush:

I wonder, is there any way to fix the wonky October summary?


(Adam) #90

So this has been live for a week and a half now.

Any news from the developers as to when extra options will become available? (Eg last Thursday day of the month :sunglasses:)


(Dan) #91

Not sure if it’s been mentioned and I think I might have mentioned it before but the ability to categorise a payment into multiple budgets would be highly beneficial for me.

E.g. a weekly food shop to my grocery store might also result in collective purchases of screenwash for my car (Transport), a sandwich from the food to go section (Eating Out), withdrawing £10 cash from the cashier at the checkout (Finances), a DVD (Entertainment) and shower gel (Personal Care).

These all have their own corresponding budget and don’t really fall under the Groceries budget.

Also when income is received would be nice to categorise that into relevant budgets so Summary is more accurate.


(Marcus Nailor, Hot Coral Detective) #92

Here’s a bug with this new custom Summary :bug:

Pulse doesn’t update with the custom date ranges :scream: Looks like it’s still running from the 1st of each month.

Of course this won’t matter for too long, Pulse might or might not be on its way out :eyes: (either to be completely removed or overhauled with a shiny new (and more useful) pulse :grin:)

But in the meantime, Summary says one thing and pulse says another :yum:


(Sam H) #93

I need this! I often end up splitting the transaction into several categories and the cashier looks at me like I’m slightly crazy. It’s the same when paying off my Amex - I make several smaller payments so I can categorise more effectively.


(Steven Joyce) #94

If the app knows it you pay eg It send you a notification. Why can’t it automatically set your period?


(Steve) #95

That code wouldn’t work for everyone, people get paid at different times.

If you spider chart it out there will be hundreds of combinations. It has to be manual and there has to be lots of options.


(Anthony Coleman) #96

Are we going to see other pay periods supported anytime soon as it’s been two weeks since the last change? :face_with_monocle:


(Adam) #97

I was playing with the Emma app last night and their solution is very elegant


(Steve) #98

Yes. After the last patch a couple of weeks ago they stated this was just the beginning of the roll out. No timescales for the rest yet though.


(Christopher J. Sladdin) #99

Does anyone know if there are plans to include predictions of incoming payments in Summary any time soon? Would be especially helpful on joint accounts, where two salaries are paid in at different times. At the moment, my Summary view is skewed for the first few days of the month while I wait for the other income to come in.


(Adam) #100

Dunno. This aspect has gone deathly quiet since it was first launched.

No word about different summary options than what has already launched…

Weekly, fortnightly, daily…

First Monday of the month, last Thursday of the month…

There loads of options I’ve seen other apps do that hopefully Monzo will implement!


#101

I get paid 3 working days before the end of the month. If this day lands on a Sat or Sun its the Friday before. Can this be set up? Ie in November I got paid on the 28th.