Sorry if this exists elsewhere but I can’t find it.
When I put money im savings (eg by standing order) it gets classed as spending. But it’s the opposite of spending. Can a savings / investments category be added to give customers a more accurate view of their spending / saving?
That’s what the Finanves category is intended for, I believe. Transfers from Monzo into other financial holdings e.g. cash, investment, savings etc.
As @Feathers says finance is the category to use
And we’ve also renamed ‘Cash’ to ‘Finances,’ so you can see your savings, transfers and investments in one place.
Thanks for the replies. I understand the logic, but (for me at least), I’d prefer it to be called savings. That just seems more straightforward to me. I guess it depends how broad the categories are supposed to be. Also, if finances includes savings, it doesn’t make sense to automatically put ATM withdrawals in this category, because they’re pretty much always going to be for spending on something. Thanks
Yeah, I see what you’re saying.
I’m working more from a ‘they are what they are’ place than anything else since I’ve seen no inclination on Monzo’s side to add any new categories when requests like this are received.
You could go to the transaction/s and toggle “Exclude from Summary”.
Whilst this won’t give you a record of how much your are saving, it will at least exclude your saving/investment transactions from your spending analytics.