Please get rid, it’s useless.
I hadn’t seen this actually, my bad! I would have posted there instead…
I don’t think they should completely scrap it. They should fix it. It can way more intelligent. And they can add more features but I doubt this is their worry atm. They got loads of other things to do.
I simply don’t think it is Monzo’s job (or the job of any bank for that matter) to provide graphs, etc., of your spending. It is your job.
The more effort you invest in managing your own finance the more understanding you will gain of spending habits, etc…
You can do this easily by downloading your statements and putting them into a spreadsheet such as Google sheets.
I don’t particularly dislike the graph, but find the warning underneath too many words- i have enough cash at the moment to spend the rest of the month, yet because last month was unusually high spend - and the one previously, admittedly-, my spending graph says i will run out of money, which is really annoying, as is the constant warning sign i will have to live with til payday.
My suggestion would be that colours work, but messages are redundant in this context. I would welcome flexibility turning those off.
That’s the donut of doom, not the graph
(What’s the spending thing actually called?)
I don’t object to the graph, just where it is located. Move it away to another screen or tab so it is not on the transactions page, but perhaps on a page with spending analysis.
I’m head of product management for a B2B company and most of the products I inherited are built around a map. This map shows each outlet in our customer’s estate.
The maps serve no real-world purpose, the users have no need to know where each outlet is geographically.
But… When I started talking about removing them sales/marketing HATED the idea. ‘they look so cool on our website/brochures’
I wonder if the same thing is in play here? Just about the first thing your eye is drawn to on monzo.com is the spending graph (interestingly it’s not on the Play Store screenshots )
Honestly, how is this useful…?
Monzo will tell you that’s the most useful thing since sliced bread
Now that you say this I think it’s true
It’s not their job, but it’s their USP.
It’s not useful like that at all, which is why it should be centred and have date labels on the X-axis. At the moment, it appears to reset on a monthly cycle. Admittedly you can manually scroll backwards, but that’s no good for a quick glance.
What about if Monzo gave some more details about the future functionality enabled by the graph?
It is the location more than what it does. Just move it elsewhere in the app!
That depends on their response. If it becomes the most useful thing ever, then it’s already in the right place
That’s interesting, and perhaps their intended USP but it is certainly not something that interests me at all since I do all my financial analysis and management offline using a spreadsheet, should it get that complicated. For me the USP of Monzo is their multi-currency low commission international banking. Admittedly, now Transferwise have similar facilities, I use Monzo as a backup.
Dare I say it, this sounds more like Revolut’s USP. Monzo is more domestically focused post-prepaid, but as you now say it’s your personal back up.
Manual spreadsheets are antiquated imho and can be intimidating for anyone not proficient with Excel. Personally, I think it’s less time consuming and more efficient to outsource spending analytics to an automated app like Monzo et al. There is a significant target audience for the USP of Smarter Banking.