Targets - Custom Timeframes 1


(David) #19

Couldn’t agree more Uncle fungus. This could be as simple as allowing 2 cards for one account and access from more than one device.

As mentioned above, you can work around the multi device limitation already, so all I need is a second card linked to my account. So close but I’m guessing so very far. :confused:


(Ben Green) #20

Your description sounds similar to this


It’s essentially a shared account supporting variable spending and bill payments from numerous people. And your aversion to having to move money between accounts manually to make the type of payment (shared/personal) is something I share.

Perhaps the discussion may be better moved over that topic as I’m struggling to see the big relevance to custom timeframes.


Does Monzo offer a joint account?
(Andrew Schofield) #21

I’ve linked up the following post

As I suspect most people will want this information if they search for topics about Joint Accounts.


(Ed Stubbs) #22

It seems like a pretty small thing to implement but then again I don’t have an engineering background. However I would say that without custom time frames, the targets feature is a bit pointless at the moment.

It would also be nice to have some sort of indication of how far through the month you are, perhaps a percentage on screen or some sort of bar showing the progress from pay check to pay check


(Mark Crummett) #23

Definitely want this. Mainly the custom timeframes as I get paid on the 27th of each month, rendering targets pointless for me at the moment


(Alex Sherwood) #24

This is a very manual solution but at the end of each month you could increase your current month’s Targets, to cover your additional spend, since payday & then descrease the following month’s Targets to take that spend from your new paycheck into account. That way your performance against Target is always measured against the same benchmark & the category alerts :traffic_light: will still work as they should & provide a meaningful insight.

Obviously that’s going to be too much hassle for some users but it’s what I do at the moment :slight_smile:


Targets - Custom Timeframes 4
Spending Periods
Set Start of Month 13
Edit spend amount manually
(lena) #25

I hope that Monzo can introduce weekly targets, rather than monthly.
Trying to set a target for a monthly expenditure, for something that you normally don’t try to think about (i.e. how much I spend on groceries per month) is actually quite tricky. Weekly targets would be brilliant. Even the choice of daily.


(Alex Sherwood) #26

Me too! This feature really will be a game changer :slight_smile:

I’ve moved your post here, as the second post at the top of the thread includes a preview of this feature, which is being worked on now.

Judging by this comment, from one of the Monzo designers, it sounds like this is almost ready -

if you think that the suggestions so far have missed anything, please do share your thoughts :bulb:


(lena) #27

Thanks Alex :slight_smile: That’s really helpful. Look forward to it!


#28

Hi,

Can you incorporate weekly budgeting/spending targets as opposed to just monthly please as it doesn’t appear to be an option (at least on my app)?

Thanks.

Matt


(Alex Sherwood) #29

Hi Matt!

I’ve moved your post here, as there’s a preview of the solution that Monzo are working on towards the topic of the thread.

It’s sounding like this could be ready as soon as the current accounts launch :tada:


(Jarmolkiewicz, Matt) #30

Perfect thanks.

Kind Regards,

Matt


(Danny) #31

The monthly target feature is a brilliant idea but it would be nice if you could choose a weekly target as well


(Benjamin Doherty) #32

lol, Im just over here still on android waiting for any form of ‘Targets’ .

I understand that they are going to come to android along with the current accounts. I can’t wait.


(Josh) #33

Hello!

I’m new to Monzo and loving it so far. One question I do have is: would it be possible to customise the dates of the target on the app?

The reason I’m asking is because I get paid on the 15th of each month so tracking my spending is a bit of a pain as it isn’t as straight forward as starting at the beginning of the month, I pay in my spends on the 15th. Is this something that is possible for you guys to do?

Monzo is such a great concept and I am sure that lots of people would benefit from being able to set their own target dates!

Cheers guys,
Josh


(Matteo Scotton) #34

They have plans to let you do this. Change your pay day date to a specific date like yours, or even the timeframe, like every 4 four weeks instead of monthly :slight_smile: We just have to wait a little first, but it’s definitely in the pipeline!


(Josh) #35

Thank you so much! I assumed it would be. Thanks for such a quick response this bank is awesome :slight_smile:


(David) #38

You’d think so wouldn’t you…until you notice this thread was started over a year ago :frowning:

Come on Monzo!


(Felicity) #39

This is exactly what I would ask for - especially during a tough financial month. Having the option to keep an eye on your daily and weekly spending are the very tools you need to keep within your overall monthly sending targets. Thanks Lena!


(Richard Cook) #40

Hey all :wave:

Just an FYI to let you know that we’ve added Custom start dates for Targets/Breakdowns to Near Term on our Product Roadmap.

Hopefully we’ll have more to share soon :slightly_smiling_face: