Nova Money Planner - Q&A

OK - trying to connect to FD. Just waiting [and waiting] for spinning green wheels to stop.

EDIT: Gave up after 5 minutes. Will try again after coffee.

R-

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If I ignore the spinning wheels I get connected to FD but with no route forward. No idea what to do except cancel the attempt. Any other ideas? R-

Subsequent attempt also failed. I removed the app and reinstalled it - same outcome. App removed. R-

Sorry for the inconvenience. There seems to be a problem at the moment with FD and HSBC. I’ll report the issue to Truelayer.

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Update: we released the version 2.18 that simplifies the Track screen, ads an Academy section in the Profile screen and fixes some bugs.

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And 2.18.1:

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Can’t hide anything from you :grinning_face_with_smiling_eyes:
How do you find the update and the new Track screen?

Surprisingly easy, I find that the Track screen works very well for me:

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hey Sam, love the new simplified track screen. I was wondering how the monthly budget is calculated on the app?

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Hi Greenland, Nova automatically calculate your monthly budget based on your goals. The flow is: Your goals > monthly required saving > monthly budget.

Then in the Track screen, your budget is split between your fixed costs (bills, etc…) and variable costs. So make sure to review your bills at least once a month.

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Thanks for your message, that makes sense. Does Nova handle income as a fixed cost as well? I’ve noticed that even though my spending habits don’t change regularly, my payday will usually be what Nova thinks is my best performing day, while the day before it thinks I could enter the “slowdown zone”.

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Nova budgets your month in a forward looking way by projecting your income, bills and variable expenses. Basically it considers that your September expenses should be covered by your September paycheck.

Your month-end income is estimated based on your transaction history. But if you have irregular income, you can edit it in the Track screen: drag down the top bar, tap on “Edit plan” then go to “Money in”.

If you earned more/less than planned, then Nova will increase/decrease your monthly budget. But earning more doesn’t mean you have to spend it all :wink:

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I do have somewhat irregular paydays so Nova misinterprets them a bit. The edit feature in the track screen is exactly what I was looking for, thanks.

Btw I was wondering where I could find the tutorial videos on the app once I have already watched them? Just in case I’ve missed any other features similar to editing on the track screen

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You can tap the Academy icon on your profile page [top right - Mortar Board and Scroll] where you will find three videos. That screen also references a YT channel, but I have not looked at them yet. R-

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Spot on :+1:

@Greenland9 Some users asked to have shorter tutorials so we will replace the current videos by short 30s videos.

FYI, we experienced some synchronisation delay over the weekend but everything should be back to normal now.

Sorry for the inconvenience and thanks to all those who reported the issue :+1:.

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Hi Sam, I have just registered here to ask you :slight_smile: You have mentioned in the beginning of the thread that Nova can help to plan my investments. I installed the app, connected my Monzo, Revolut and Natwest accounts and everything is really great so far… excepting that I could not find this investment planning. When I try to create a goal it shows me only the “house” and “custom” options. The only thing I can do is to see the history of my investments in the past. Is the investment planning the paid-only feature (I am still on a free plan)? Thank you in advance for the answer.

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Hi alex_me, the investment goal was a commonly requested feature which will be released soon! We’re going first to try it within our private beta group than release it publicly.

By setting an investment goal, you can Nova how much you want to invest per month or year, and Nova will take that in consideration when calculating your monthly budget.

Let me know if you want to join the private beta.

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Ahh, I see. This looks like what I need! I just thought it was already hidden somewhere in the app… How can I join the beta?

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I’ve sent you an invite in DM :wink:

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