Redesigning Spending

(Kenny Grant) #10

This looks great, particularly excluding transactions from the spending breakdown, a few people have been asking for that. I’d prefer excluding entire categories like saving (if that existed :slight_smile: ), but this’ll do for excluding that sort of thing from targets manually.

The new breakdown screen looks nice, I can imagine eventually including Savings accounts in there (like a S&S ISA for example). People shouldn’t really save long-term with Monzo at present due to the negative real return.

Interesting that some categories are now applied like labels alongside other categories - it’d be nice to see this across all categories rather than special-cased - there are many cases where multiple tags might be useful (Family spending on meals for example). This would then of course let you add user defined categories without breaking any of your core assumptions about categorising data automatically. Sad to see no mention of this here (unless I missed it).

The 2 new categories are… underwhelming. I’d hoped to see a bit more progress there, at least excluding categories which are not required by that user. Great to see at least some progress on this though, even if it is not things I’d personally use. Most people with families will have a joint account, something Monzo doesn’t offer, so for me family is not going to be very useful without that as spending goes on the joint card.

As a more top-level point, which ties into your negative feedback from users on that slide - I’d love to see Monzo focus on positive guidance - most targets/goals from Monzo here and other apps tend to focus on nagging users about spending too much on coffee - it’d be nice to invert this and make targets all about goals - saving for a holiday, for a bike, for a deposit for a house, saving for pensions etc, it’d be really great to see a bank encouraging people to focus on saving, not on spending, and positive reinforcement is far more effective than negative feedback, particularly for the people who need this advice most. So I much prefer the idea of reverse targets and think they should be the focus rather than targets.


(Brian Hunter) #11

Love these videos, however could you please employ an audio visual person, and give them an equipment budget. It seems every video has audio and visual issues! Can make them tough to sit through. That video is headache inducing with the wavy washed out images, and I’m am watching the Open Office January video right now, but I’m going to have to turn it off cause the buzz through it is too much.

It’s just a shame is all.


(Eve) #12

I was very excited about this when I saw it in the event. It would be so much more useful to me than what pulse or the popup notifications tell me (you have spent £20 at xxx. You are spending too quickly). I prefer pastel icons though. I thought it fit in better with Monzo’s app design- or are you guys trying to go neon for everything possible?



Told you I was excited by this overhaul :tada:


(Ian Lyon) #14

Please bear in mind that what you’re seeing are very early designs :pray:

You could see quite a few changes before release - especially based on the testing we perform when we turn these designs into a fully-functional product!


( related to Monzo CEO, Investor in Monzo ) #15

“very early” designs shared 10 months ago though - yes I appreciate you have converted 360000 over to a different system and all the hard work that that entails , it just feels like “everything” is… …still …coming … soon …I thought the speed of iteration of “challenger banks” was meant to put legacy banking and their speed of adoption of new features , going through their procedures for acceptance , different departmental responsibilities, risks etc etc etc into the shade :slight_smile: - maybe 10 months from initial public showing to implementation …sooon … is quick :slight_smile:


(Dan) #16

@iansilversides - I thought I had seen these designs before :rofl: that’s why I asked how old the video was… you do have a point though but :man_shrugging: it’ll be here soon I hope :slightly_frowning_face:

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( related to Monzo CEO, Investor in Monzo ) #17

I hope so too - Im afraid …coming soon… just creates a stick to be beaten with from us impatient, expectant users and almost encourages users to try other offerings - which may, or may not be better than Monzo, rather than talking on the forum about the good and bad points of the latest update , that can then be tweaked by the Monzo design crew based on the feedback - kind of like the prepaid card speed and ethos of shipping new features :slight_smile:

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I’d really like to see ‘Investment/Saving’ as a category, and I hope that the ‘Pots’ category will eventually turn into that.

The financial behaviour that I think should be encouraged is the ‘pay yourself first’ philosophy, where your savings are a bill the same as anything else rather than aiming for an amount left over at the end of the month.


(Kenny Grant) #19

Really nice to see it in progress, so thanks for sharing.

Everyone has different needs/request of course - I’d love to see more categories but all these improvements look like they’re moving in the right direction.

Would be interesting to knowing where the idea for these new categories came from, was it user testing, or internal polling, or looking at user transaction data? I ran a poll a little while back and there were some interesting suggestions.


(Ben Green) #20

Please don’t call it a ”thick bar” :rofl: it’s a type of meter, so maybe a ”roto meter” thingy or maybe just a meter.

The rest of it is superb and I’m really keen to see how how you’re gonna redesign it for iOS.

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(Toby Toller) #21

“The rope” - depending on where the hand is, you either have a good grasp on the rope or you are letting it slip out of reach!




This is a good suggestion :tada: :raised_hands:

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(Calum James) #23

I love the new Personal Care category (it was much needed), and I can see how a Family category could be useful for people with … families. But I’m shocked and very disappointed there is no Gifts category—no category for marking transactions as something I purchased for someone else, whether it was a round in a bar or a specific gift for someone. I find myself buying little things for people every month (lunch, a beer, cakes for the office, or a little something I’ve seen that I think a friend would love) and it would be great to be able to track all of that in a category to manage and keep track of how much I’m spending on other people.

Considering that was missed out of these early designs, is that really not something many other people would find useful?


(Eve) #24

Everyone laughed at that! I thought a “dial” would work

I second this, would love this category.


(James Billingham) #25

Ultimately the notion of a finite set of fixed categories is flawed… not really sure why this still isn’t being addressed properly.


(Alex Sherwood) split this topic #26

21 posts were merged into an existing topic: Custom Categories - 1


(Frank) #30

Without sounding harsh the video is hard to watch. I am sure it was a great experience in person. Could the designs be added to a post as an update to the previous sneak peak? Or even added to this one.

There was a suggestion earlier above if you employing an AV technician. This would be great :+1:t2:


(Ed Stubbs) #35

Really liking a lot of the potential updates on the presentation.

Just a quick question for the guys and some thoughts.

Looks like there’ll be three toggle options for an item of spending; ‘Mark as recurring’, ‘Mark as expense’ and ‘Exclude from Breakdown’. Are you planning for there to be similar toggle options for an income item?

Expenses - When my employer pays my expenses, it would be good to have an ‘Exclude from Breakdown’ or ‘Mark as Returned Expense’ toggle for the income item and then I can remove both the initial spend and also the amount returned by work from my breakdown.

For split bills I think there’s two options, you could have a toggle which allows you to select the spending item in the feed that the repayment is linked to and then it will subtract the income item amount from that spending item.

Another option, which I prefer, would be for you to have a toggle on the spending item which allows you to either reduce the figure that goes into the spending tab to a fraction if you’ve split the bill (1/2, 1/3, 1/4 etc), or allows you to input the figure which you personally have spent - so say £30 has been spent overall on a joint shop with your mate and your mate owes you £10, you could press the toggle, input £20 for your personal spend and this then filters through into the correct category in the breakdown, removing the £10 that is owed. You would then have a toggle on the income item which allows you to exclude it from the breakdown so when your mate pays you back £10 you can remove it from the breakdown page and the repayment is only in your transaction feed and doesn’t affect the breakdown.

It solves the time issue, because as soon as you spend the money, you would be able to correct the amount in the breakdown and make sure the dial/‘thick line’ would have the correct colour. If you waited until the mate paid you back, the numbers would be incorrect until they had done so.

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(Not Theresa May) #37

Hopefully this will include splitting cash withdrawals into other categories