My main issue when budgeting is with one off sizeable payments which I don’t plan very well for.
Case in point being my car insurance. You can pay monthly or all up front and I pay up front as it’s cheaper. So there’s let say £660 coming out in one month and then nothing for car insurance in the intervening 11 months. I tend to forget about the monthly cost of the car insurance when budgeting in the months which I don’t pay for it which means I’m spending more than I should be.
There’s two options I see for the app, one is to save into a virtual account entitled Car Insurance or whatever you’re saving as has been discussed in the community before, but the other would be to have the option in the app to spread a one off payment over the 12 months (or over whichever period required), therefore every month, or every anniversary of the payment, 1/12th of the payment would be added to the payments stream.
The major issue I see is that you have to pre-load the card with the £660 prior to the payment and it would reduce the balance at the outset, not every month (with £30 like in my example).
So perhaps it wouldn’t work…but maybe there could be a reminder somewhere on screen to take the monthly payments into account, such as a small circle with the number of payments that you were spreading into that month in the corner etc. just some sort of notification that you need to stay £30 under your budget for that month.