Forgive me if I’ve missed it, but do we know when we’re going to see this functionality (maybe in labs)?
We’re working on it at the moment!
Great news! Can you share how far though you are? Are these just designs, or do you have working prototypes?
I really like summary particularly the “left to spend” feature with the amount and dates. I even like the different colours i.e green, amber and red.
But what I don’t like is the box underneath telling me I could run out of money. Based on my amount left to spend I should have plenty left over. For me the information I want to see is how much I have left to spend.
Id be happy to see the writing underneath taken off.
Is there any estimate as to when this will be available as an update or in Labs?
We don’t have a working prototype yet as we’re still refining the entry points to make it both easier to access and to set it up. We’ll keep you posted!
Okay, I’m confused now. I haven’t been paid my salary since I switched to Monzo.
At the moment my Summary has my budget (adding up all the small budgets for transport, groceries etc).
Now that’s my budget. What does it matter how much, or when I get paid, or the frequency? This budget is determined by me, knowing how much I make and decide how much I’d like to spend. Or is it that people want to budget from the payday? Which i respect.
But, how is pay day messing this up? What will happen when I get paid? Wouldn’t/Shouldn’t summary work exactly the same?
i.e. My budget runs from the 1st of the month, but I actually get paid every two weeks, but that only affects my total balance, it’ll keep changing every two weeks. My budget is still monthly for me. My question is, from the point of view of a tool that works: “every calendar month, I want to spend £200 and I want to check the progress whenever”, does that still work?
What am I missing? Thanks.
I know I’m late to the game but I get paid every 4 weeks so summary gets really confused for me really lookinf forward to some updates here…
Same here. So I have the summary run from the 1st of each month. Some people who get paid monthly prefer to budget from one payday to another. I’m not quite clear what the problem is that you’re having?
Budgeting by the calendar month 1st-1st works well. You’re right if you do it like this then it’s actually irrelevant what days you get paid because the budget is independant of your payday.
As I understand it if you set the budget from payday to payday (which is what Monzo are encouraging people to do) it seems that a lot of people are having problems because summary as yet isn’t very good at predicting when the next pay day will be.
AHH I see. Cool now I understand, thanks.
Sorry if this has already been raised - I don’t have time at the moment to read back through everything.
My salary is due to be paid in to my account tomorrow, and is showing as pending on my Monzo account right now. I have received a notification warning me that I have a payment due tomorrow and not enough money in my account. By the time my salary is paid in I will have enough money, so I feel that perhaps I shouldn’t receive this message when you know that I will have enough money the following day - if that makes sense?
I think the current implementation simply isn’t that smart (from a message somewhere in history). I’m in exactly the same state today and I’d add that I have two outgoing payments today so it should really look at the total outgoings for the day rather than the individual transactions. Again, I think that’s been acknowledged in the past.
Summary could do with a little bit more introduction/explanation when trying to set up start dates. See my thread here:
Looks a little more streamlined than the previous screenshots.
Yes yes yes
Great to see this is being worked on! Still can’t see how this would work for ‘last working day of each month’ option though, or is it just me?
Maybe set it to 31st, with the option of “Working Day Before”? I think that might work…
I think you would select payment on the 31st and also change it to “the working day before” if not a business day.