You're set to have £x left over confusion

I understand the “Left to spend” feature is = Income - Pots - Committed spending - Spending. This makes sense, and is shown accurately in the app as £3,000.

However, below the spending circle I have “You’re set to have £1,000 left over” which isn’t making sense to me. Left to spend is showing £3,000, so where am I losing the £2000???

Any help would be much appreciated. Slightly worried…

Hey :slightly_smiling_face: it’s estimating that at the end of the current summary period, based on your current level of daily spending (minus the committed spend), that you will have £1000 left over.

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It’s a very simple sum and doesn’t track trends or anything that deep.

If you start with £3,000 and spend £100 a day for the first 5 days, you’ll have £2500 and Monzo think you’ll spend £100 a day for the rest of the month so you’ll have nothing left.

If you start with £3,000 and spend £10 a day for the first 5 days you’ll have £2950 and Monzo think you’ll spend £10 a day for the rest of the month so you’ll have £2700 left over

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Ah so it’s based on the current trend of spend for that period! Thank you @monzo2018 and @Revels

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Do you know the actual algorithm - is it a rolling daily average? No account taken for weekend etc?

I believe so because I tend to refill my car with fuel and do a food shop on a Saturday (£100+ ish) which never seemed to be taken into account vs lower weekday spends.

I’d love it to be smarter and know that if I have £50 left with a Tuesday and Weds before payday, based on those days previously, where I might have bought a couple of lunches then I’ll be fine and I’ll have money left over. But if I have £50 left with a Saturday and Sunday before payday, based on my habits, I’ll likely run out of money.