Trends - a big update to the Monzo experience

And as far I can tell you can’t set it be 4 weekly pay. You can just pick a date, which doesn’t help if you are paid on a different date each month.

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You can?

Or at least in the latest TestFlight version, for plustomers you can?

It let’s me choose the date, asks if I want it to always be that date or the working day before and I’ve been able to set it so it shows pay check to pay check for me at least.

Not sure if I’m lucky or just missing something

I’m paid generally on 20th if not the day before, so I set custom date to 19th as that is generally when I will receive it and it adjusts accordingly to accommodate that.

I’m paid on the last working day of the month.

I can set it to that, with the option to default to the working day before.

But if I use Paid Early, my salary is paid the day before the last working day of the month.

That means that my salary will always end up being the last day of a Trends/Summary period instead of the first.

If you’ve fixed this, show me how!

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Ah yes, it that particular use case I guess you can’t…

Hmm, I wonder if the easiest way to resolve this would be to have the option to reset when you get your salary paid in? Probably easier said than done but surely this would resolve this for a lot of folks?

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Exactly this!

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That’s the best trigger point there. But what happens with multiple incomes - we’d need a Salary Selector to override the Period Picker!

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Simple transaction picker to choose which one to run it off - then some logic so as long as it’s from the same place and within x% of the chosen value it just happens.

Multiple salaries aren’t a problem: down to the user to choose which one to start it with (or just stick with a calendar period if that’s easier).

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I’m another person who is paid four weekly. Really disappointing that this doesn’t give that option like Summary did.

I’m hoping this is a first draft and there’s more options to come because as it stands it doesn’t ‘fit in with me’

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Yeah, very much diminishes its usefulness to me :frowning: if and when it gets rolled out fully

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If you have a Profit category, it may look a bit funny as it’s income, not outcome :relieved:

Still, Trends are more accurate than monthly expenses report :thinking:

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This is an interesting conundrum.

I’ve solved it by creating an investments category. When I get the money back, I split the transaction to net off the capital outlay against investments, then any profit as income.

The more I look at it, the more I think we need separate collections of categories that we can create ourselves and track independently. Things like “discretionary spend”, “regular bills”, “investments”, “savings”, “income” etc.

Like many things, Trends hints at great potential power that I fear will never be realised.

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I also have Investment category :relieved:
As it’s spendings, it looks okay on the graphics.

Still, I keep Profit as separate category, so it keeps me on the loop how much I did invest and how much I made on top :money_mouth_face:

I really want to build this! It would nicely solve for Get Paid Early, as well as letting us skip the date/“working day” questions.

It’s quite a bit more involved, which is why we didn’t include it this time around, but I’m hoping that we’ll be able to revisit pay periods in the future :crossed_fingers:

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I’ve just had custom reset periods enabled on my account so have taken another look at Trends.

I notice transactions categorised as “Savings” are excluded from Spending. I dislike this behaviour. I want the money I put into my savings to be tracked as part of my overall spending (it’s spending on my future) and reflected in the headline spend figure at the top of the page.

It seems to me Trends is less flexible than Summary in terms of excluding from spending analysis. With Summary I could decide what is excluded on a transaction by transaction basis. With Trends, Monzo dictates what categories are excluded :frowning_face:

If you’re not a plus customer the trends screen looks rather ugly!

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Agreed. What’s the Monzo line on this? I see it’s an attempt to upswell but it should not be permanent. We should be able to discard it and default to Summary. It’s such wasted screen real estate for basic users who have no interest in paying for extra banking services.

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Wouldn’t this mean you’re spending the money twice though? Once when you spend it as savings, and a second time when you actually spend it?

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It depends on how you (as a user) approach budgeting/spend tracking.

My primary interest with tracking tools like Trends is to monitor my spending relative to my income on a within-month basis. To do this I need to be able to classify saving/investing transactions as a type of spend.

I’m not really bothered in having tools like Trends track how I spend previously saved money so when I spend from a savings account I would mark the transaction as “excluded”. This prevents double spending and it also prevents tracking of spending from saving sources getting in the way of my tracking of how income is being spent.

This accomodation of user control/flexibility was present in Summary and is present in 3rd party tools (such as Emma) but is not available in Trends.

Can’t find a thread about this but what’s the plan for Trends & the Budgets / Summary area in the app? They cover a similar ground but contradict each other in the way transactions are categorised. It seems like it is up to me to decide which one to use but cannot use both.