Weekly budgeting feature

I would like to set a weekly budget for every week for example if I set my monthly budget to £400 I would like to then set a weekly budget of £100 so I can further keep to budget and plan what social plans I can make or can’t.

Is this something other people would be interested in having as a feature ?

And if so is this something the developers could push out in the next update?

Thanks

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I would love to see this as I get paid weekly. I hope this is added in the future. :crossed_fingers:

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I think this would be a great feature too as I also get paid weekly so would massively help me budget between paydays.

At the moment, I think being able to change the duration of the budget cycle is the only feature missing from Monzo as not everyone works on a monthly cycle. Adding this feature would make Monzo better than any banking app I’ve seen so far.

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I absolutely agree. I get paid weekly also, it would make the app so much more usable for those of us that are paid weekly. The budgeting and summary features are of little benefit for us until
Weekly budgets and pay cycles are available.

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Me too — the ability to budget weekly [as well as monthly] would be a very helpful addition :+1:

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Can a weekly budget be set up?

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Not yet no, only monthly. But I hear more flexibility is coming to the summary tab in the future so keep your eyes peeled!

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Yeah I saw posts from 2016 about it

When is this coming?

I like the concept of the Monzo app, however it does not solve my problem of spending 75% of my salary within the first week of getting paid and then having to be on a tight budget for the rest of the month. Can Monzo please introduce a weekly budget feature?

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A weekly budget feature has been requested a few times, I think it’s something they’re looking into.

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Fingers crossed! It would help so much

Can IFTTT help with this?

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I’m hoping for something like Dozens

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I just opened my account today after seeing the feature on the App Store. All good but I would love it if we could have a budget for those of us that get paid weekly.

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Have a little search of the forum for this and you’ll find a thread about additionally needed budget options by a Monzo dev.

Sounds like it’s all in the pipeline - sorry can’t link you as I’m out and about!

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I’ve notice that summary only accounts for people who get monthly pay and you can set up custom summary for weekly pay. Would be ideal for people who work on construction sites who mainly get payed weeekly (like myself)

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I believe at the top of the existing summary where you can switch between months there should be an option called “today” And instead of showing X amount left of Y for Z period of time it’ll just say X amount left for today. Then below, the breakdowns of budgets will change from what’s left of the total month to what’s left of today’s individual budget. This individual budget for today should be calculated by simply dividing the total monthly budget for any category by the amount of days in the summary reset period. This will work because when setting up a monthly budget a user usually works out how much they will spend everyday and then manually calculates it over the month to get to that monthly budget idea anyway. The great thing is that, if you spend up to the amount given for your DAILY budget then you will be able to remain on track for your monthly budget to make it last. If you spend however over that daily budget then the daily budget will be lower for the next day and so on. It gives you a more specific metric to aim for when managing money on a day to day basis and staying on track for the month.

I’d add this feature then just leave it hidden as an Easter egg lol for people to find, or if it’s big enough for people to really be like wow just mention it in the next update desc on the App Store! So excited to see this implemented in future pleaseeeeee :tired_face::joy:

I’d also then just add a weekly budget breakdown also for users who like to see their money budgets weekly so instead of X amount left for this month, or today it would be X amount left for this week again by dividing the existing monthly budget by 4 or however many weeks/days are in the summary reset period to find out 1 weeks budget, then a user knows they can spend up to that amount and still be able to stay on track with their spending. Similarly if they go over that weekly budget their next weekly budget will decrease as a result

I’m not suggesting you create entirely new summaries just manipulate the already there/existing data with a few simple calculations to make the app more applicable. Thanks guys :slight_smile: Love Monzo so much it’s been getting better bit by bit every month! :heart:

(Similar feature shown on another mobile banking app called Loot)

Please upvote this so the developers know how beneficial this would be! Been told by the support team to put this onto the forums so I’d love to see some reactions! What do you think? :man_shrugging:t3:

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Cool idea!

How would that work if you do a big supermarket shop once a week?

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