I’m one of those that wants to move my committed spending away from the rest of my funds for peace of mind.
I’ve just moved my Direct Debits to Monzo.
The plan was to have the disposable income in the main balance and DD funds in a pot and DDs would put me in the overdraft for a few moments whilst IFTTT did it’s thing and pulled the funds out of the pot.
So I had a look at the ingredients and they seem to say Monzo.cardPayment - so does that mean DDs aren’t pushed through to IFTTT?
Which means I’ll have to rely on the “committed spending” / “available to spend” which in principle are good ideas, but with variable DDs they could be saying more money is available to spend than is, with the pot approach I could put a bit extra in there and it’s all sorted, with the budgetting tools I can’t seem to find a way to reserve a bit extra to account for possible larger DDs (as in say increase committed spending / decrease available to spend by £200)
So say I have a daily budget of £30 coming from a pot each day, bills which last month were £500 and a balance of £730 it would be telling me I could spend my buffer ( saying £230 available to spend).
You could say ignore everything below £700 but that amount will be constantly changing as DDs come out.
So my question is, can we pad the committed spend figure on a permanent basis somehow, or is a committed spending / DD / SO pot in the works?