I use my pots as a way of helping to monitor spending, transferring a set amount into a pot at the beginning of each month and then every week having a scheduled withdrawal from this pot. Any money left over at the end of the week then goes into a savings pot. However this scheduled withdrawal doesn’t show up in the overall budget bit at the top of the new design. So the app is constantly feeding back that i’m going to run out of money. It would be great if the app would recognize this! Does anyone else try to budget like this?
Pots were made to be segregated from your main balance, so summary is correct in displaying that you’re running out of money.
That being said, I believe it is on Monzos plan to tackle summary next to make it more useful and integrated. Perhaps this will be one of the improvements made
There is also a request to allow you to pick a pot to spend from too. Have a search and vote for it if you feel it would be beneficial
I have my balance as £0 always, so I have a similar issue.
Thanks for your response! Get that about pots being segregated and that makes sense in most cases! But as you say just think this would make the summary more helpful (for me at least ).
Will have a look and see if i can recommend it
It sounds like budgets are the feature you should be using, you set a budget for each category and monzo monitors how much you spend in each category
This is how I use my pots too. It would be really good if you could click on a transaction on your main account and be able to select which pot you want to pay for it out of (to reimburse your main account if that makes sense) - would remove a lot of faffing about between pots and main account!
I assume that there would be quite a few people that use pots like this. I saw @Jami did an interesting article about people’s feedback and what is coming next, one of the things was the ‘left to spend’ budget. Hopefully this is the sort of thing that would be considered within that