Spending

I love the idea of being able to mark a specific transaction to do a return! I’m adding that to our “Kickass Ideas” post-its wall right now :smiley:

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can we have a total top up amount over a given time period ( maybe re settable at tax year or calendar year ? ) similar to spend at certain outlets history ( number , average, total ) - along with monthly wage ( ? ) top up shown on graph - I presume when you are licensed this would be wages in total as opposed to “top ups”

Quick custom tags would be an awesome feature

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@anon95680666 exactly, our current Top up is just a workaround while we wait until we are a bank and you can actually pay your salary in. The rest of things you mention I think we’ll cover them at that point (budgeting, etc.).

@AlexSavin tags represent a really difficult battle on a financial product. The advantages are strong and power users usually like them a lot. On the other hand the moment you include tags (“tag” behaviour instead of “folder” behaviour) things like comparisons start breaking because the numbers never add up (the same transaction can have three tags associated).

Before the alpha (when we were building the app internally without even a website up) we had a tag system working into the app and this is one of the things we learnt. I’m sure we’ll revisit it at some point though :slightly_smiling:

For now, probably the best solution for you is to write your tags on the “Notes” section, then you can search for them.

In terms of user experience IMHO pie/bar/other charts don’t add too much value as @Sam already mentioned before. They look pretty but tend to get overcomplicated very quickly. Less is always more :slightly_smiling:

What we could have is a simple way to export the spending, then you could use spreadsheets or your favourite tool to generate/visualise these charts.

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Yeah, I’d really like to give people a simple way to export a CSV of their spending. We might try to build this at the hackathon this weekend.

Ok sure - I think I would potentially be ready for things not to add up - this should be obvious if you’re associating multiple tags with transactions. But yeah, I bet you did more research than me :smiley:

Big fan of the adding receipts to expenses - especially with an eye on all the trips I make for work and their protocols on expense submission!

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I found a small bug.
“Your spending” analytics doesn’t consider refunds.
If I get a refund, I would expect the amount to be deducted.

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For me, the other side of the “where is my money going” coin is “how much of my remaining balance is already spent before I get paid again”. A cool feature would be some kind of forward looking spend view based on:

  1. Scheduled payments (once account supports DDs, SOs etc.)
  2. Historical spend (interesting challenge to come up with an algorithm that doesn’t simply average previous category spends)
  3. User input future spend (holidays? dinner plans? etc.)

A few banks have tried this, but lack the richness of data and elements of AI/Machine learning to create a properly useful feature.

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@vojtech_vrbka Yeah, you’re totally right. We’re working on that :slight_smile: Well spotted!

@Matthew That makes a lot of sense. It’s still a bit difficult for us to create that kind of feature because your salary can’t be paid into your Mondo account (yet) but we’re definitely working into budgeting, “left to spend™” approaches and things like that. Stay tuned!

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Looks good. Sketch for the win! The only thing I would be careful about is using the current navigation that is not that obvious to the users. Research and think about using a TabBar. Even I would not figure out that I could press the two tiles up top (which is not convenient especially on a bigger device.) Product Design is not just about making a pretty product, it’s about solving the user’s problem and making something that is intuitive and easy to use.

That sounds exactly like our job ad, we’re hiring :wink: https://mondo.workable.com/jobs/189070

I am genuinely interested into the problem you’re solving and I really like the perks; however, I am currently unavailable (working full time at Snupps as a full-time Lead Product Designer.) We can keep in touch and see if the possibility emerges at some other point of time. :wink:

It could be interesting to try and tie up emailed receipts that we’re starting to get from some stores (say when you pay in person at an Apple store) this could be one way to start breaking down what an overall transaction amount was spent on. 'You spent ‘xxx’ at Tesco, of which ‘x’ was on groceries and ‘x’ was on DVDs.

You can already give apps like Tripit access to your emails to pull out trip confirmations and build you an itinerary, so in theory should be doable.

Hey guys,

Looks good - have you considered adding a feature to allow the user to enter their own budget for each category, then alerting you if you go over it (either by push notifications or the text turning red for example on a category you have overspent on)?

You could then use this overall spending vs budget to allow users to make easy decisions relating to savings… e.g. you were £100 under budget in this category this month…would you like to transfer this to a savings account? etc.

Or pre-warnings, such as "you are reaching your budget on ‘eating out’ - and maybe even ultimately partnering with merchants to push discounts and savings offers to those who have almost run out of money that month!

They would be really useful features for me at least! (The penalty for living like a king first two weeks of the month is you have to live like a pauper for the last two!)

@ben.foulkes those are all awesome ideas, thanks!!

We’ll definitely try to build them the moment we start giving budgeting functionalities :slightly_smiling:

TIL “The penalty for living like a king first two weeks of the month is you have to live like a pauper for the last two!”

Great - let me know if there’s anything I can do to help shape / contribute / get involved when you get round to the budgeting stuff… Genuinely think there’s massive potential there, both for a customer/user perspective and from the business side, I’m sure the likes of Aldi and Lidl would love to be able to target customers directly with offers in that situation!

I’d really like the ability to categorise transactions at a higher level. I.e food etc as they are are great but an expense category would be good to be able to apply as a secondary category.

That way I can easily see overall my expenses but how they breakdown into food/travel etc.

I have an idea to use the API to search for these and based on the sub category, it can make expense claims for me

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It would be great to break down holiday spending (and probably the same for work spending). So for example, you select ‘holiday’ and then you’re given the normal options like entertainment, travel, eating out, hotel stay etc… Such a feature would be really useful for future holiday budgeting and simply understanding how holiday spending breaks down