Hey just wanted to feedback on how I’m using Mondo at the moment (and how it has been changing my spending habits). Would be interested to see how others are using it!
Basically I have now shifted all of my discretionary salary and spend onto Mondo and am using the Mondo balance to track how my spending is going in the month (I calculated discretionary spend by salary -bills -saving). Surprised how quickly I have come to trust a startup with my salary!
At the moment it seems like Mondo being separate from my main account is actually a benefit so will be interesting to see how that changes when it stops being prepaid -
Mondo balance being separate from my bills means I never have to consider whether there is a bill coming out - Mondo balance is the balance I can spend and I know that my regular bills are already accounted for.
Admittedly I could have done this before with a traditional credit card or other prepaid card but Mondo does make it much easier to review what has really been spent due to its use of auth rather than settlement plus the easy of use of the app. I used to have my spending and bills in the same account so I have a lot more clarity on my spending now.
Using Mondo in this way, there are some things that would be nice to have, for example:
- Weekly spend target (that I can set) and being able to see target against this
Other than this, I am finding the expenses tagging to be very helpful - we are meant to use a work expenses card and not our personal card but that isnt always possible so its useful to be able to easily tag and track these transactions.
Anyway, thats all I can think of now!