Fair enough, probably the more sensible name would have been “budgets” or “limits”:
- The problem with the word “budget” is that tons of people feel strongly against it (boring stuff, legacy banks, something that doesn’t work…), it reminds me of the “diet” in “diet Coke”.
- “Limits” on the other hand makes sense but talking with users we’ve seen that some people expect the limits to be “hard” limits. So, if you say your limit is £30 your card will decline after that amount… which is not what we want to build right now.
So that’s why we went for “Targets”. It’s a Monzo concept that in the future will expand this functionality and make things far more interesting that just limit spending.
I hope it makes sense 