Weekly income

I was wondering whether there’s an option for weekly wages/income? It seems that this category is regularly missed as neither Monzo or Starling offer this feature…

hi @Chamz just wanted to point out that this feature has now been added - I wondered if you had a chance to try it and tell us what you think?

1 Like

Funny enough I haven’t used dozens for a few months, I was giving the company time to iron out teething issues then got an email last week advising that £2 had been credited to my account (thank you). That email reminded me that I needed to give dozens another trial so I’ve just come to the forum to see whether there had been any updates and I saw this message. I will definitely give dozens another go as you’re still my favourite challenger bank. I love the visuals and potential.
Are round up savings now linked to the transaction and actioned at the time time or does it still appear separately?

1 Like

Sorry, one more thing - I’d noticed that the budgets did not adjust with spending. For example, if I have a weekly budget of £100 and spent £0 today, that amount was not recalculated for the remainder of the week. Therefore if I then spent £40 tomorrow it shoes red as I’ve gone over my daily budget. This was raised in the forum and customers/members was advised that this was done in an attempt to encourage saving. I found this presumptuous, as most will no doubt ‘overspend’ one or two days out of the week but if I’ve underspent equally I expect the amount to balance out. I will then move to savings accordingly at the end of the week

They are indeed :slight_smile: on both counts.

1 Like

This is good, I’m pleased they’ve made these changes :grin::grin:

1 Like

Nice to have you back in the community!

We’ve heard the comments, but let me try to explain our view on this.

The weekly budget is actually a tracking tool that divides your monthly unbudgeted (and therefore ‘disposable’) income into equal daily targets so you know that you will not run out of cash by the end of the month (if you stick to them).

In order not to spend more than you have or run out, those targets have to move downwards if you overspend on one day. We’ve decided to show this on a weekly basis rather than a monthly one so that you can react faster to fix any issues before it gets serious.

But the monthly budget is not a target to spend.

The goal of the Track function IS to underspend because that is the way to find money to put into your cash savings.

You can track your ‘net’ performance over several days of over/under spend by looking at “This week’s budget score” at the bottom of the graph, so you can see how you are doing this week, and the same is true for the month.

Hopefully this makes clearer why we take this approach.

This tool, in combination with automatic tools such as the IFTTT rules and Roundups can help create surprisingly healthy cash savings balances.

Thank you for the explanation, i will give another try and hopefully see past the annoying red on the days that I’ve apparently overspent though I’m still within my budget - just saying it like that makes no sense (I’m very logical) but I’ll try my best to remain positive and give a fair 2nd trial…

transfer to dozens then heads out to go shopping :grin:

1 Like

focus on your Score … that’s your friend! :slight_smile:

budget%20score

1 Like

Yes. Good point made.
It’s the RED that is annoying.
But Rob made a good point, it’s the weekly budget score my friend.

I guess you have to get the UX designer to make this less intuitive

1 Like

We can do this, I’ve played with the app again today and it really is a beautiful piece of work. We can see past the red :ok_hand:t6:

2 Likes