No-spend streak


(Sonia ) #1

Hey, not sure if this has already been suggested- but since Monzo is so strong on keeping spending in check ( I feel terrible pangs of guilt when I see that dreaded red circe in a notification ) - then maybe no -spend streaks can be introduced? Kinda like DuoLingo rewards you when you do language exercises several days in a go


(Rika Raybould) #2

The problem with this is that anybody living in London using TfL or who owns an EV will never build up a streak with all the small, required transport transactions. When Monzo begins offering full current accounts to users, streaks will also be potentially broken by bills or other “required” payments.

That’s not to say the idea doesn’t have some merit. If you were using Targets to attempt to save money, I could maybe see an integration that will count the number of days you’ve gone without buying a morning coffee from a merchant such as Starbucks, for example.


(Sonia ) #3

Ahhh that’s a very good point. I forget about that because I just top up a monthly Oyster and then don’t worry about it, and all my recurring charges go to the NatWest card, since there’s no DD feature yet. Silly me! But maybe there can be category streaks, like “shopping” or “entertainment”. And I honestly believe that “alcohol” should be a category too :3


#4

And the winner of the No Spend Streak is a dormant account! Surely Monzo wants/needs active accounts with regular/frequent transactions going thru?


(Rika Raybould) #5

That’s another great point, though Monzo wants you to be responsible, encouraging you to spend nothing at by not using the card would be a disaster!

Merchant or category based streaks are likely the better solution here, especially for resolving financial difficulties by being specific in what somebody needs to do.


(Sonia ) #6

Good point you both!! I’m just thinking of it from a money saving perspective. I think the best thing would be to cut down on certain categories like shopping or entertainment


(Alex Sherwood) #7

I think this is a great idea from a user’s perspective & ironically, this might make users spend their money using Monzo more because in order for the streaks to mean something, when you spend you have to make the transaction from your Monzo account.

This might be a good extension of the virtual saving pots. But even if Monzo decide not to build it, it’s exactly the sort of thing that a developer could build an app for, once Monzo’s API is ready, a bit like these apps that have been developed already :trophy:


#8

Oh my god, I’m always so happy when I go a day without spending, but it’s so rare. :disappointed:

Maybe instead have a streak for only spending below £N, where N is a user-defined variable.


#9

No spend streaks are impossible for me as I use the tube daily. But a below £5 streak could be achievable !