Now in Labs: Safety nets

I understand that this feature is for anyone who isn’t aware of what an emergency fund is. No idea how many of those make of total Monzo’s customers but if it helps educate one person through the popups then it’s a worthwhile feature.

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That’s what I see it as.

I’ve updated my IFTTT to use the ‘safety net’ pot and hidden it

Yes like most good ideas it is remarkably simple. I already have a pot for this but millions don’t though they should. If you lose your job this sort of thing can
be the difference between losing your car or home or not.

Nice to see monzo executing on something close to their original vision of being a different kind of bank.

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I realise this is Labs still, but Safety net doesn’t account for Flex which makes it pretty difficult to set up for me.

I only recently got Flex and I’m still playing with it. I flex most of my regular larger essential. Rule of thumb, If it’s larger than a tenner I flex it. Safety net doesn’t look at Flex so it thinks my grocery spending is £17 and transport is £0. Until the set up screen accounts for Flex too it isn’t useful for me :confused:

Completely separate: find it interesting that personal care isn’t a default category. I know you can add it but it’s so obviously an essential.

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Personal care is free to categorise?

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It doesn’t have to be exact. You can edit the figure to whatever you want.

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yes but I’d need to manually jump back and forth with the trends screen and thats just way too much friction.

“Useless” was a bit extreme tbh, I’ll adjust my wording

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It’s not any friction? Just guess/make a number up/remember it once?

Put the target at £100k, it doesn’t really matter.

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If you turn it on in labs what do you do next? It’s not going to automatically start taking money out of my main account is it? I have to set it up and choose how much first etc? Otherwise it may mess things up for me. Thanks…

Whilst I totally appreciate the current artwork, I’d love the ability to change it so it matches the styles of my other pots!

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It’s probably been covered but didn’t see it - am I able to adjust the figures at a later date if my bills change?

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Just press edit.

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Will it be possible to schedule regular payments, but say weekly or monthly on day the 3rd Friday of every month?
Can’t see it but me personally I get paid weekly on a Friday so would be nice to have it specifically on a Friday so I won’t miss it then or manually do it and get tempted not too etc

Can you enable roundups on the safety net pot?

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Doesn’t look like you can.

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Afternoon folks. As a few of you noticed, our safety net pot image was using the rainy day pot image. Now that we’re starting to roll out safety nets more widely, we have a brand new pot image hot off the press. We didn’t want this to block us from rolling out to you all nice and quickly in labs, hence us following up with this now. The joys of lab testing!
Thanks all for your feedback and discussion above. We really think this product will help people build up some financial resilience.

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Will it be plausible to allow is to choose our own image later down the line?

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LOL :grin:

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Any chance of enabling round-ups to Safety Net pots? :pray:t2:

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Thanks for the update! Really hope that this will work beyond one month soon - I already had more than a month’s worth of safety net set aside and now I have moved it into there it is a bit frustrating that I can’t stretch the goal beyond a month to keep building it. (I know in reality I can keep adding money though).

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