Because hardly any transactions are cash anymore I find it hard to see just how much things are costing me. I think more stats could help with that.
- You spend 37% of your salary on Direct Debits
- 12% of your salary was on Groceries
- Your spending on eating out has gone up by 6%
You could then question big purchases to see if you could really afford it. For example if I wanted to spend £800 on a new laptop how would that leave me for the rest of the month. Could I afford to spend X% of my salary on this.
I’m sure Monzo already have this data (it just needs formulating) so maybe this could be done at the end of the month every month in a report on the summary tab?