Early access update
- iOS v2.44 has rolled out to Testflight today (Tuesday), and will very likely hit the App Store tomorrow.
- Android v2.45 is expected to hit the Beta channel Thu/Fri, with Play store rollout on Mon/Tue.
So if you’re on iOS, there’s no need to join TestFlight now. If you’re on Android you can join the Beta channel at the bottom of our Play Store listing and wait a few more days (or just wait for Monday).
We haven’t yet enabled the feature flag for anyone today. Sorry about that I’ll post something here once we enable it for you Current estimate is tomorrow morning (Wednesday). Some asked how many people have requested access, as of now 739.
…cue elephant leaving the room
Now that we got that out of the way I really want to answer some of your questions/feedback. I just finished reading every comment on this thread and feeling very grateful for all the useful comments so far. Please keep them coming!
Before we go any further please keep in mind this is a very early version of a new app navigation. Don’t take this as something that will happen for sure. We’re just discussing potential approaches and want to bring you in on that journey.
The love for Summary is really good to see! We’re definitely not getting rid of budgeting, it’s one of the things that makes Monzo so useful. In fact we know budgeting is so important that we want to make sure we get it right, and give more visibility to some key budgeting elements.
Here’s what we’re doing with high priority right now:
- Add a budgeting widget (placeholder name) at the top of your transaction feed
- Show left to spend in ££
- Show number of days remaining until end of current pay cycle
- Progress bar for cue on % spent against historical available to spend
- Green/yellow/red colour feedback based on left to spend.
- The information in the budgeting widget is the same as the Summary dial (circle)
Below is how this looks like right now. It’s a taken from Android v2.45 (fyi iOS doesn’t have this on v2.44 but should do on v2.45). I was on my way home and saw this when opened the app. I was so excited that at a glance I was able to see that my balance was £21, that I only have £7 left to spend (because of an upcoming bill), and that there’s only 3 days left before payday Note to self, take some cash out of a pot.
It might seem like a very simple thing, but seeing these 3 numbers coming together to tell this story without having to think was so powerful! It felt that it just worked.
But are these the right numbers? From your comments here seems like the Left to Spend is the most important one (assuming Balance at the top is a given). What about the “3 days left to go” and the progress bar? What would you replace these with to help you manage your money better at a glance?
Other things related to Budgeting in the new navigation
- Not having a place in the nav bar for Summary is very likely going to happen
- The budgeting widget is just an approach, we’re not sure if it’s the right one, or what info should be on it. Feedback welcome!
- Tapping the budgeting widget right now will open the standard version of Summary. We’re doing this while we figure out what should happen when you tap that widget, and where other elements of Summary might go in the future.
- Budgeting across multiple accounts/cards is not solved yet - more on that below.
Categories and Merchants
Another theme from your comments is viewing spending by category. We’re exploring bringing aggregate spending by category to the home screen (like we have now in Summary). And we’re also looking at doing the same for Merchants. There’s still some unanswered questions around this, for example how do you switch between different months/periods? Perhaps that can be the same mechanism that allows you to quickly navigate your feed (since we’re losing this functionality from the Pulse graph)
The screenshot below shows how these could look like, next to your Timeline (Feed). This is from a design file.
The screen behind “View All” looks like the standard Account screen, minus the Monzo card and related actions that have moved to the Home screen. It only shows things related to the current user scope, so if you’re on your Personal account you don’t see Joint Account items, and vice versa.
- To change between Personal and Joint Account you need to long press the nav bar (iOS) or use the Switch Account button temporarily in the “All Accounts” screen. This is all temporary.
In the future
The way we’re thinking about this is that when you go to All Accounts you’d quickly be able to see an overview of your financial position. In my previous post I referred to a list of “all your account related objects” and this is purposefully vague because we don’t know yet what might be added to this list of things in the future, and most importantly we don’t want to be opinionated on what they mean to you.
Maybe for you the Amex card is part of your daily spending money, in which case you should be able to group it with your Monzo card and call it Daily Spending. Someone else might have a House Fund pot grouped with their mortgage, as savings set aside for remortgaging a few months later. But the same person might have a Holiday Pot grouped with their Family Presents pot.
Whatever mental model you want to use to think about your money, we want to respect that. I’d be very keen to hear everyone’s thoughts on this too.
This also popped up a few times in the thread. For a moment let’s put aside personal preference in seeing the card behind the Timeline. There’s some extra reasoning to keep it there that we haven’t shared yet. One idea we’re playing with is that from tapping another “account object” in your “All Accounts” screen you’re taken back to the Home screen, viewing that specific account object.
Imagine you tap on a different card in All Accounts, for example your Amex. The app takes you to Home, your Amex card is now peeking behind the Timeline, and your Timeline shows your Amex history. We’re also looking at how swiping the card currently Home left-right can change the context you’re on.
Interestingly, in the spinof survey that I saw above it seems very few people cared about “seeing Pot transactions in one place”. Maybe this doesn’t work for everything that lives in your All Accounts, we’re still exploring.
Please continue sharing your feedback, it’s what makes Monzo, Monzo