Trends - How is Savings meant to work?

Hi Community :wave:t2:,

I can’t figure out the trends sections, specifically the Savings area which always puts me in overdrawn even though I am saving.

I raised feedback in the app a few months ago and heard nothing and want to see if I can get to the bottom of it. Perhaps some automatic tagging is not functioning correctly.

I wonder if the community can check something for me.

I click into the Trends section > Spending section > down to “Excluded from spending” then click on Savings.

In this view I see the “transfer in” and the “transfer out” of the current account (same transaction), both are cancelling each other out.

Is this the same for others?

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So what you need to do to make Trends work is just have one side of the transaction categorised as savings. Otherwise, as you say, they’ll cancel each other out.

For me, I use my Monzo current account as the “hub” for all savings. I categorise any outgoing payments as savings and make sure that the incoming transactions are categorised as Transfers. That’s the default behaviour, I think, of the Monzo savings pots and it works well.

Update! No it’s not.

Past me just excluded the savings pots from Trends to give a proper value. Well done past me.

Thanks for the quick reply.

I can manually change each transaction from the Savings section but I would have thought this would be automatic.

You don’t get the same options as when you tag other transactions, where you get the option to set an automatic rule for all transactions going forward.

I think you just hit the nail on the head! It works well when I exclude the saving pot from trends :raised_hands:t2:

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