What's the most eye-opening thing you've learned by budgeting through Monzo?

So one of the best features of Monzo is all the different ways you can look through your payments. What things have you learned from it that you wouldn’t have been so easily able to see otherwise, and how has it impacted your spending?

For me, it shows that in the last 12 months I have spent £2,391 on restaurants and takeaway (and that’s only the chain restaurants I recognised on my merchant list), with £1,377 of that going to Just Eat alone!!

The interesting bit though, is that in the past few months that number has drastically gone down (I spent nothing on takeaways this month) because I’ve started dating someone who enjoys cooking - which we now do as an enjoyable activity together.

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Ive found I spend far , far too much on alcohol, and my local hostelry should be giving me a loyalty card

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Mine is similar to yours but the bad thing about it is that I’m a chef :joy::joy:

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The biggest thing is that I’m now far more deliberate with every transaction I make, so I’m able to live on less and less each month, putting more away for the future.

It has taken a few decades to reach this point, but better late than never, eh!

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How much my GF spends on dresses. And shoes. And bags.

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Having very clear visibility on transactions has been wonderful for my husband and as we’re trying to put more and more money aside.

Before we always used credit cards, but because of the nature of these neither of us had complete visibility on the total situation.

We’ll ultimately go back to using the Amex because I can’t stand the idea of losing my Avios. But for this year of extreme saving the visibility offered by Monzo is more valuable.

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I used it to see how much I spend on TfL. It is particularly interesting to see how the price of the same journey varies based on time of day, and also daily and weekly capping.

For me it is that I always seem to be able to live to a budget. If I increased or decreased a budget I can usually live within it. But unfortunately I can’t reduce my council tax or mortgage. Damn :joy::joy:

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