Predicted spend/balances getting worse

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1

And I don’t mean the money in my account although that is true as well.

A year ago I could reliably track my expenditure accurately by looking at upcoming bills and in my summary screens. I had recently changed employment and was now getting paid weekly which meant the timing of my bills (monthly) was a headache for a while but I was in the happy position of having spare cash each week once that was sorted. I used to check my account almost daily throughout the week and carve of a little of my forecast surplus into different pots every day.

Fast forward to now and the screen I used religiously for such planning got taken away a few months ago only leaving monthly budgeting options but also Monzo seems incapable of predicting outgoings any more.

A prime example is I get paid in 2 days. This morning I checked my accounts and it showed me my upcoming transactions and I was happy nothing was planned to go out until Friday so I took half of my balance and moved it into a savings pot. I have just checked again now having made a couple of purchases and suddenly there is an extra £100 showing going out tomorrow. What’s more it’s actually a Monzo loan so shouldn’t be a surprise.

It seems that what used to be a very reliable look-ahead is now pretty random. I could of course track these things myself but one of the big benefits of Monzo was it took care of everything for me so I didn’t need to.

Is it just me or are other people having problems with the reliability of budgeting tools and forecasts?

2

cliffhanger… please continue :sweat:

But I think the answer is to stop using Summary and get your head around Trends instead. It’s still not a forecasting tool for periods beyond the current cycle, but it can be set-up to report much better than Summary could.

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Sorry my editing skills are lacking… Had a sentence orphaned.

4

Using the balance section of trends and comparing it against a spreadsheet it is accurate for me based on what it expects to go out.

Maybe something additional went out.

I did have an issue with a direct debit not being picked up in the upcoming section of my bills pot but think it was my fault for not checking it was set as a repeating payment / subscription.

5

But trends wants to know when my month resets… But I want to track weekly.

And I don’t want to have to use a spreadsheet… I didn’t need one before they took away the tools I already had

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You’re correct you shouldn’t need a spreadsheet but it’s always good to check and balance every now and again.

Also agree you should be able to do this weekly which is a shame.

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True but I will say it again… A year ago Monzo tracked this all for me accurately, but through taking away weekly planning functionality and it not recognising recurring outgoings (that have been in place for over a year) on a random basis it means that Monzo has lost the main reasons I liked it and reduces my reasons to stay.

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