How about telling us how much money we have already committed to in direct debits/standing orders each month. So we can compare that to our balance and see what kind of spending money we might have left over or if we need to add money to our account to meet the commitments! We could tell the system when payday was (if it can’t already work it out) and we could see at any point how much we have committed to until that next pay day next to our current balance… What do you think??
I really like this idea, and it’s certainly on our ever growing list. I’ll update when we get closer to being able to add this.
I would find this really useful
This would be a great feature. I would love to have a balance which already has this months direct debits taken out.
Just wondering if this still being considered… would be really good to have this option and would in some cases prevent direct debit bounces.
Absolutely! Or at least to know the date on the scheduled payments, even just being able to make a note there!
I second this as a good idea and would like to add the ability to “earmark” money, I.e. I had a direct debit for £50 scheduled to go out on the 30th, I can earmark £50 and that no longer shows in my balance and cannot be spent except for on that direct debit in much the same way as money allocated to goals. This would work well for standing orders as well, I.e. I have £700 due out by standing order 10 days after pay day, if I could “earmark” that money I would have a better view of what my available money is
This brings back memories of my One Account. They “earmarked” (what a strange expression) in a way… But without my say so.
I went into a petrol station, filled my car and my card got declined. I rang them up and said I was trying to buy £70 worth of fuel and had over a hundred pounds in the bank. They said, “Yes, but your council tax goes out on Monday, so we’re saving your money for that!” I pointed out that it was Thursday and I got paid Friday so there would be fresh money but she said she couldn’t help. I screamed that it was MY BLOODY MONEY and MY ACCOUNT and MY BILL and MY RESPONSIBILITY and MY FAULT if I can’t pay it! But she said there was nothing she could do. How ridiculous!
After my brother kindly paid for my fuel over the phone I got a new bank account elsewhere within the hour!
I know its not the same scenario as this but it brought it all back so I thought I’d share… Because sharing is caring!
I think spending time creating “earmarking” could take away from spending time on making DDs from a goal, which would basically be the same thing but I think would be a more complete solution.
I like this idea but do think it overlaps with the Spending pots idea mentioned elsewhere - ultimately I would really like to have customisable spending pots (rather than “goals”), and be able to select which spending pot my balance screen represents (default , and switch between others). Then I would no longer need to self impose limits by having different accounts for different spending purposes.