Monzo Wealth Tracker?

Feedback & Ideas
1

It just occurred to me when scrolling through my lovely monzo pots and accounts, the only place I have a single list of all my finances is in my head.

I know I could just use a spreadsheet, but perhaps having an add your own accounts/wealth feature would be bit nicer.

E.g. add how much you have in NSI bonds, add a share amount (and it track based on realtime share prices), add how much you have sat in an ISA etc

A distinct section so it’s clear it’s your manually added stuff, but totals overall.

Apologies if I’m being ignorant to other solutions already out there.

And I’m hoping, open banking will help solve some of this…

2

It’s a good idea and one that would seem to align with Monzo’s original vision of being a financial hub.

With Open Banking this would now seem possible, too.

I can’t help but think it will be lower down the list of Monzo priorities, though. They’re trying to monetise following huge amounts of funding.

3

I would refer to this account aggregation. It’s an idea that fits Monzo‘s vision of being the central hub for your finances and they’ve already started providing aggregation of credit card accounts (albeit in a very basic way compared to other aggregators). I’m not sure whether they have seriously started looking at aggregation of other account types yet.

In the meantime you could look at other dedicated account aggregation apps.

Unfortunately, open banking regulations only apply to payment accounts (essentially just current and credit accounts). They don’t require providers of typical savings accounts or investment accounts to make the accounts easily readable by 3rd parties using APIs.

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4

Would be great, I currently have a spreadsheet that I update once a month with a snapshot of all my balances :joy:

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5

It’s funny because I’ve been thinking about the same thing this week. Especially the tracking of shares and outside accounts such as my LISA. It would be very similar to Emma but even Emma doesn’t provide all the information I’d like to see

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6

Emma allows you to add manual accounts/balances in the paid version (Emma Pro).

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7

I really like this idea and think it would be a nice addition in its own section or as part of the vertical drop down

8

Aren’t there other apps that do this already? Maybe not Emma, but Money Dashboard?

Wary that Monzo end up competing in that space when the core banking side of things is still behind where they want it to be??

9

Not sure why anyone would pay for Emma Pro when Money Dashboard more or less does the same job. For free.

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10

Thanks for the tips on other apps, I might take a look at them, but to be honest, if it’s not all in monzo it’s just a faff.

For now I’ve got pots with no cash and the targets are the real amounts I’m manually adding :slight_smile:

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11

I do this too, have an update to date spreadsheet with all bills monthly and costs, yearly bills and costs. A breakdown on money left after all bills etc after salaries. And a list and total of all other money in pensions, pots, stocks, ISAs etc. It’s not ideal but it works.

13

To add to this, also adding a total of the personal + joint balance would be quick and easy. Thanks!

14

I’m not sure Monzo finds anything to do with joint accounts to be easy.

15

Hopefully the requirements for Open Banking will grow to include all financial products in time. They are a brilliant first step, but there is so much more potential!

Or maybe the answer is just that providers will see the value of having Open Banking outputs for customers and offer them for other products even when not required to do so. Or is that just wishful thinking?