I’m constantly buying things for my friends and having them pay me back, sometimes before the purchase has even been made. It would be great if it was possible to ‘split a bill’ by selecting payments that have already come in, including withdrawals from money pots. Otherwise my budget goes haywire when I have to decide between including the cost of a meal for four or excluding my share entirely.
I’m not sure I’m following what you’re saying. Is it…
Sometimes you get given money from friends and then you’re asked to buy things with it? You then want to exclude these from summary?
Sorry poor wording on my part, but yes sort of. If I go out to dinner with friends, I get the bill, and they pay me back their share before I’ve had a chance to go through the ‘split the bill’ function and request payment from them, I only want my share to come out of my eating out budget and cause my ‘left to spend’ to go down. Similar situation if I have a ‘personal care fund’ money pot and I want to pay myself back from that when I buy shampoo as part of my grocery shop, for example.
I’ve never actually gotten round to splitting a bill so if I’m honest I don’t even know if other’s shares are actually excluded from the summary when you do.
Either way the problem would be easily solved if there was an option to exclude only part of a payment from the summary. Even better would be an option to ‘link up’ incoming payments with an outgoing payment and exclude the offset amount.
Don’t your friends have their own debit cards?
Is it that unusual to get the whole bill in one go to save time? Or if I go to the supermarket and someone needs milk I might buy it for them instead of forcing them to come with me. I’m a uni student living with housemates if that makes it seem more likely, I can understand it not being a necessary feature for someone living alone or with their family.
No it’s not unusual, I just thought it seems by paying for things when your friends are present you seem to be creating your own problems budgeting.
It seems quite a complex thing to implement; accounting for reimbursements before you’ve paid for something, and the problems are easily fixed by you not always paying in full.
No so much excluded more so they “pay back” your budget for that category from what i believe but to be honest i havent used the budgets for a while as i found it too much of a pain to get right.
When it requires too much work to manipulate its just not the right solution. Stuck to excel for now.
I mean most of the functionality is already there.
If it can be done by splitting the bill and Monzo tracking when the payments come in, why can’t it be done by manually selecting payments that have already come in? It seems if I’m too late selecting the split the bill function and my friends pay me back before I’ve got round to it then there’s nothing I can do.
Not to mention there’s already an option to exclude a full payment from the summary, being able to partially exclude a payment would have the same effect.
You’re definitely right that I’m causing myself problems by offering to pay the full bill, but as I say there are times when the solution isn’t as simple like when I’m paying myself back for part of a payment from a money pot or even a different bank account. There might be a workaround to a problem but that doesn’t mean it isn’t worth suggesting a real solution. That’s what this forum is for.
Yes that’s pretty much what I’d be hoping for. It doesn’t matter whether it excludes from or adds back to, so long as it doesn’t have me down as having spent £50 on a week’s groceries when I make an online order with my housemates.
Think you’re right, I switched to monzo mostly for the in-app budgeting but there’s so many tweaks that are needed that it just doesn’t work if you care about accuracy. Seems for now I need to fire up excel again as well.