@Jami are you able to add some clarification please as to how it now functions with the RAG & overall budget?
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To me this makes sense as before it was tailored to the fact you could be draining your account to Ā£0 every month which most people probably donāt want to do. So you set a budget slightly within this.
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You say intelligently predicting I say itās broken. It all comes down to how one gets paid, and Summary in itās current form just doesāt work for people who donāt receive a regular monthly salary.
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Itāll be interesting to see how it all works and what changes are made to support joint accounts especially when both parties are paid on different dates. Iām 18th and my partner is the last Friday. We tend to run our budget from me getting paid
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would it not be logical to give you a custom date rather than a payment (s) into account only option - as was previously indicated on sneak peaks with Hugos screen shots - if all your DDs come out on the 1st of the month isnāt the day before - or any date you chose where you want to budget from
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The overall budget is great for those that need it, but yesterday monzo was intelligent enough to tell me what my budget was after bills and transfers into pots. Now it doesnāt and theyāve added and extra step for me to perform.
Both options work for different sets of people, Iād just like the option to choose.
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Emphasis mine. This bit is what isnāt happening - at least for me. I agree that if both options were available thatād be great. But whereas before the update I had a clear figure of how much over/under Iād be, that is now gone.
Thatās why Iām a bit confused about whether this is how itās meant to work.
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This would be my preference
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mine too, and I cant find the screenshot from a talk with Hugo a while back where they had ācustomā dates for targets
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would be so useful @hugo to see this implemented to be able to set the target for when the end users wants to budget from , not only the choice to set from a date that you get paid 
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Really? OK, that puts a different light on things
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I worry that we (the community and Monzo) canāt see the wood for the trees on Summary. Or maybe itās just me. So I thought itād be helpful to write down what I think the needs are:
I want to:
- set a budget (typically a figure made up of my income minus committed spend (or to override this if I want to)
- predict how much over / under budget Iāll be at the end of the month, so I canā¦
- ā¦see how much Iāve got left to spend for that period
- see all upcoming committed spend (and a total) in one place
- see all income in one place (salary and any other expected payments in)
- view total spend per category in one place
And, just for fun, I think this next one might solve the ādirect debits from potsā request:
- Have the option of Monzo automatically declining any transactions that would take me below my safe to spend level (e.g. if my income is 2000 and my committed spend is 1000, decline any transactions that would take me below 1000 so that I have certainty that my commitments will be met).
For me, I think that the Summary tab only meets part of this. Some suggestions for fixing the rest:
Integration with Pulse - so you can see committed spend - and how much is safe to spend - on the home screen. Maybe something like this:
Future transactions in the Feed - we know this is coming as part of the Big List 
A different approach to the Summary Tab - Iād like to see options to view each category in its entirety, as well as filtered views for committed and discretionary spendā¦
Thereās probably more, but thatās a super short summary of whatās in my head.
Make sense to anyone else?
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Love the Pulse mockup, i know itās synced with overdraft spend but since I donāt live in mine I donāt ever see the warning yellow line. Definitely agree about being able to see committed spending/ predicted income all in one place or at least mark out how much I expect to receive without allocating the full amounts to different category targets (now renamed as Budgets).
Since Iāve been travelling the past month most of my spend now lives in the holidays category and I havenāt budgeted properly in forever, so I admittedly havenāt touched the Summary tab in awhile.
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Hey all, thanks for the quick feedback on the spending budget change, it really helps! I can talk through our intentions, and what we plan to do next.
We heard two bits of feedback quite often:
- Summary assumes my budget is everything in my current account balance, and keeps telling me Iām going to end the month with too much / too little money left over (depending on how I use pots, and if Iām paid monthly or not)
- I miss the ability to set myself an overall spending budget, not just the category-based budgets.
We got the impression that people didnāt trust the green/amber/red statuses (and accompanying messages), as they couldnāt provide enough input on what it is they were aiming for. And if youāre not someone who moves your excess money into Pots, the summary dial wasnāt super clear.
So our idea was for the dial to be āneutralā until you tell Summary what you goal is.
We struggled with whether or not the goal should be based on a target balance/ left over amount, or a maximum spend. The former became very complicated as we explored it, as it felt disconnected from the category-level budgets, and the decisions people make each day (āhow much should I spend on X to stay on track?ā) - so we opted for a Spending budget.
So the current version has two modes:
- āNeutralā where the dial is navy, and
Left to Spendis your balance minus any upcoming payments - Spending budget - where you tell us the most you want to spend (on the things you can control each day), and the dial becomes
spending budget - spent so far
We finished the first version of this at the end of last week, and started using it internally around the same time you did. After the weekend (and with your feedback), it feels like weāve been too quick tone down some of the logic in the neutral case. Weāre going to discuss this afternoon, and see if we can find a mid-point, so you still get some of the magic auto-budgeting if you donāt set a spending target (in my personal case, I set my spending budget implicitly by putting whatever I donāt want to spend into Pots - but that doesnāt work for everyone.)
More news soon, thanks again!
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Sounds perfect to my needs. When will you be releasing on TestFlight iOS? Will we be able to reset the month? Mine is set to the 9th after I unfortunately played with the original āNeutralā mode.
Resetting the month wonāt be in the next iOS release, but we hope to add it soon.
The Spending budget should get to iOS Testflight later this week.
As long as the āNeutralā form is retained in some form then Iām happy since that fits my use almost exactly. Iām not too worked up about the details of the implementation, e.g. colours etc.
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Thanks!
What weāre trying to strike a balance between is:
- With minimal effort I want a rough estimation of how Iām doing everyday.
- Donāt tell me Iām going to run out of money when Iām not!
Weāll get there with your help!
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I am so confusedā¦ I am lost as to what the current model means now and how the new model might workā¦ This may become more apparent once itās available but at the moment I feel confusedā¦ and Iām sure I wonāt be the only one confused about how Spending worksā¦
Maybe once itās available a detailed blog post on what each mode means/does might be an idea?
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Meā¦ againā¦ @Jami
Just been tidying up my Monzo Spending Tab and spotted somethingā¦ not sure if its a bug or notā¦
So I paid for my 1Password subscription using my Monzo card as my Business banking app didnāt workā¦ I set this as an expense in Monzo then transferred the amount from my business bank to Monzo and marked that incoming transaction as an Expenseā¦
I thought in spending it would offset the income from outgoing thus making the expense Ā£0?
However, itās not worked like thatā¦ it still shows Ā£32 in expenses?
Any idea why? Or does this only work for P2P?
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