A long time ago I remember there being lots of talk about custom categories vs the new feature of tagging transactions. I’d be interested to hear if other people have found tagging useful, but as far as I can tell it just doesn’t serve any purpose.
I basically never have any transactions in the bills, finances, expenses, family, holidays or personal care categories - what I do have is basically everything in entertainment, shopping and eating out.
If I buy a case of beer to have with friends, that goes into the shopping category (fair enough, Monzo doesn’t know what I bought), but I don’t want to account for that spending with my food shopping. I could put that into entertainment, but that’s where I track bowling, movies, games etc.
Likewise, if I go for beers after work that usually gets put into food & drink, but I’d rather be able to compare spending on drinks vs actual meals out with my girlfriend.
I could tag each time I spend money on things I’d like to track but that takes way longer than changing the category and (genuine question here) what is the point of tagging? I can’t see how much I’ve spent on different tag each month or compare them. I could export the data and make my own breakdown in a spreadsheet app, but isn’t Monzo supposed to make this stuff easier?
The least-bad solution is to just use a random unused category for tracking things monzo decided don’t get a category and ignore the fact it’s got an irrelevant name. But really, Monzo can’t just let us rename categories?