We are part way into the week now and here is another short update on my Monzo journey.
YNAB is sticking around
For me YNAB provides a more granular layer on top of Monzo, for me it compliments Monzo allowing me to budget on a more granular level, which I can’t do inside Monzo itself, for example
Groceries
I like to break this down into the individual weeks (shown below)
This allows me to see at a glance how much I have available on a week by week basis, if I relied soley on Monzo it would just show me how much I have available for the entire month, one splurge and I could be short the following week.
To get this to work with Monzo, I have created a category in YNAB called Monzo - Groceries which is the same as the Groceries category in the Monzo app, the only difference being that in YNAB I have added sub-categories to that main category.
This may not be the way that everyone budgets, I may have a more intense budget than most but it gives me a clear view from the top down of just how much money I have on hand at any given time.
Monzo has so many great features that I am sure it will become my bank for day to day banking, the notifications alone when you spend money are enough to make me move, having to wait 2-3 days for a transaction to show up in HSBC can make budgeting a pain but the instant view that Monzo gives is a breath of fresh air.
Anxieties
The only nervous point I have so far is all the posts I am seeing about poor CS but having yet to experience that myself I am not holding that against them.
The App
Finally, the app took a turn for the worst today, it was resolved by deleting and re-downloading but it did get my heart racing for a moment, the Monzo splash screen would show up and the app would just close, I thought I was going to have lost access to my money but a quick search of the forums got me right back on track.
Thanks to everyone that has helped and supported me on this journey 