Left to spend has nothing to do with your balance though? Its based on your budget. In my personal account i set myself a £100 budget for the month but only move £25 a week into my account from a pot. That means i could have £80 ‘left to spend’ but only £20 in my pot.
As long as you’re aware of your balance as well as your budget it should work out fine
In what i think i understand as your specific issue i think it would work better if your month started on your payday, if you can manage a month where your wife’s money isnt touched in the period between paydays your account will be ‘full’ once you get paid
tobyadams
(#fullmonzo joint account since Aug18)
22
I do not use budgets, nor do I want to. We have all our income paid into the joint account, and all direct debits and scheduled payments come out of it. Salary 1 comes in on the 25th and Salary 2 comes in on the last working day of the month. Salary 1 does not quite cover all the scheduled payments, so a £0 left to spend is shown. Once Salary 2 comes in, there is then a more accurate portrayal of a ‘Left to spend’ figure to work from. There is then Child benefit that comes in mid way through the month and two other payments that come in on the first of every month. These are as regular and predictable as Direct debits, so my questions is why does summary no predict these incomes as it does with outgoings.
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tobyadams
(#fullmonzo joint account since Aug18)
23
Left to spend is Balance - Scheduled & Standing orders, Subscriptions and Direct Debits.
If you don’t set a budget, it predicts your balance based on committed spending. For me and the original poster, it thinks our committed spending is much bigger than our income, because it doesn’t recognise all our income.
If you do set a budget, it works by simply deducting spends from what you set as your budget.
Happy to be corrected if I’ve misunderstood something.
I set a budget each month for how much I actually have available to spend outside of all my scheduled (SO and DD) payments. I then know the bracket I have to stay within when I am standing in a store with my debit card, everything else is just taken care of outside of this.
tobyadams
(#fullmonzo joint account since Aug18)
27
Exactly this. Also, as you’ll see in the post above, Monzo also thinks that this is a good idea! It would be so great to hear that this was in the works.
tobyadams
(#fullmonzo joint account since Aug18)
28
If you +1 this idea or think that it would improve the Monzo experience at all, please scroll to the top of this post and vote it up! Thanks
Sorry to bump an old convo, but just wanted to +1 this. Predictions for left-over money are currently useless on my joint account due to mine and my wife’s pay being ~2weeks apart.
1 Like
tobyadams
(#fullmonzo joint account since Aug18)
31
Always looking to keep this thread alive and kicking! This is one of the biggest annoyances I have with Monzo and hope they get to looking at a solution for this soon!
+1 for this… I get paid 4 weekly and my partner paid 25th of every month… how do you plan your budget?
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tobyadams
(#fullmonzo joint account since Aug18)
33
The budgeting tools in Monzo just don’t work for us unless they implement this feature. It is only at about the 10th of the month when the last payment comes in that I get a true overview and can budget properly. We are very fortunate so don’t have to budget really, but it’s always good to keep an eye on the pennies!
Another scenario this would support: I have a joint account with my partner. I put an amount in on the 1st of every month (my half of the bills), my partner puts multiple smaller amounts in throughout the month (totalling her half). There is no current way to incorporate these to make the Summary/Budget useful.
Background: I’m a self-employed IT contractor, my ‘monthly’ is from a dividend which I take from a separate ‘holding’ account. My partner is a self-employed dog groomer and is largely paid in cash. She banks when she can and transfers at that point, it’s never ever the same day each week (can be a fortnight sometimes depending on how busy she is).
+1 for this, it’s been a while and still no progress. Only requires a very simple fix to prevent Summary being effectively useless for a large number of customers
2 Likes
tobyadams
(#fullmonzo joint account since Aug18)
37
Summary is being looked at in the next few months and I’d suspect this would be part of the review
