Hi Monzo peeps!
I’ve been using the new Monzo app re-design and I’ve been loving it so far. It’s been a big motivator for some friends and family to move across to you guys, so a big thumbs up from me!
There are two suggestions I’d like to make though, which should work nicely together in fact, that I feel would improve my budgeting skills, and hopefully those of others!
The first one is a slightly smarter way of configuring the budgeting section of the app. Currently you can set it so the cycle restarts on the 1st of each month, or a custom day in the month (for example 29th), which is okay if there is a set date you’re paid. For me it’s a tricky one, as even though I have a predictable payday generally speaking, it always lies on the third to last working day of the calendar month. So for example:
- This month will be the 29th as there’s no weekends in the way and October is 31 days long
- In November, my pay is likely to be the 27th (30th lies on a Saturday, so it would be the third to last working day from the 29th, hence the 27th)
- December is an exception as we always get paid before the holidays, though I wouldn’t expect Monzo to handle this
- January 2020 would be the 29th
- February would be the 26th
- March would be the 27th
and so on. Hopefully you can see that it’s not necessarily always a fixed date! If there were options in the app to select ‘Last working day’, ‘Second to last working day’, ‘Third to last working day’ (for me!) and so on (maybe up to ‘Fifth’?), it would help my budgeting process become much smoother!
The second part is partially adding to the crowd of people who get paid via FPS rather than BACS, but the addition to mark a specific account (or accounts!) concerned with my income as the ‘Salary Payer’ (words are WIP - I trust you guys to come up with something better if needs be), I could take advantage of that throughout the app, but most importantly, I get the super sick notification stating it’s my payday.
I’m not expecting that ‘Salary Payer’ roll to magically allow us to use ‘Get Paid Early’ (I realise that’s a BACS-only thing), but it would be pretty cool…
I hope other people agree with me on this one!