So quick story to give context. I’m looking to sort out my budgeting and spending and want to try out the 50/30/20 budget. This is 50% on essentials, 20% saved and 30% on anything else.
I use Monzo as my primary account and so want to be able to group existing categories into further groups.
E.g. I would want to see Transport, Bills and Groceries all together in one group as this would be my 50% essentials group.
The best tool I have found for categorising transactions has got to be Yolt (owned by Dutch banking group ING). And it hooks into Monzo & Starling along with most major banks and credit card providers.