I have regular payments for Moneybox and Wealthify every month, and when Monzo is asking me for category of spending I am every time supprised there is no “Investments” category there. So I am choosing “expenses” but it doesn’t feel right.
I put mine in Finances.
You could vote on custom categories and then you can have what you wanted
Custom categories would be the best, but monzo was clear multiple times that it will not happen anytime soon
If that’s the case what makes you think they’ll add another category now? Why not use Finances and #investments or something like that?
I can imagine that custom categories would required big refactor of backend/budgeting/database schema/etc, while adding some static categories should be easy to do.
You’re probably right but with budgeting being worked on atm, I doubt adding any new categories now will happen. At least if you use tags you can go back later and change them once the new budgeting is here and (if) it includes investments
Last thing i read directly they said it would come but its not a priority.
Last plus update confirmed that one of the tiers would include “advanced budgeting” to me that sounds like custom categories will be included in the new plus unfortunately, but we will find out soon
I am not sure how to increase visibility or “upvote” a suggestion, but I, too, would love an investing category of some sort after facing the same dilemma.
Perhaps the conflict of interest is that Monzo would like you to ultimately participate in its own investment products?
Also some extra logic in budgeting would be great.
I can imagine some Spending report like “Congratulations, you reduced yours spending for Investments this month!”
At the top of this topic is a ‘vote’ button, you press that
It likely only has 2 votes because having requests for each and every category a person would like isn’t a good idea in itself.
You’re better off voting for custom categories, so you can add this and any other ones you would personally benefit from.
Thank you, it was above the beginning of the thread so I didn’t even think to look there.
I’ve also voted for custom categories per your suggestion.
That’s great. Custom categories are coming , rumoured to be part of Monzo Plus, so hopefully you won’t have long to wait