What If Scenario Calculator

[beningreenjam (Ben Green)]

Just giving this it’s own feature ideas topic. I had previously appended it to a different one here -

'Not Equal To' Search Modifier

What if scenarios would also be a big help for forecasting future expenses/incomes, i.e what would it look like if I got a X% pay rise next year. To make that more beneficial, I think targets should have the option to calculate a % of income rather than flat amount. Therefore savings could also be affected in the scenario. Those won’t happen until after BACS payments and savings accounts are supported of course.

Other use cases include:

• What if I reduced my hours and took a pay cut of £X per hour/week/month/year
• How long would my savings last if I lost my job
• What if I buy/sell something one off worth £X
• What if increased/decreased spending by £X
• What if I take out a loan worth £X at Y APR for repayment by date Z
• What if I begin saving £X per month for use on date Y

@beningreenjam

One possible compromise may be too petition to the government that all lenders must clearly state which provider (if any) that they use as well as clearly outline their lending decision policy, as mentioned by @JamesBell and @paul’s covered in his post in point 7. Even better if they can incorporate our own personal score into their website/app before submitting the application. Having this knowledge available prior to an application would drastically reduce the amount of misjudged applications across the country and therefore would significantly increase overall quality of our scores.

Could this somehow be tied into the scenario calculator? For example, if I were to make a what if scenario about applying for a loan with a future Monzo partner or a Monzo overdraft, I could be given an indication of its likelihood of being accepted before I submit the application.