Why use it?
Your spend report is designed to help give you some general insights into your spending patterns. Think of it a bit like a ‘conversation starter’ to help you start getting value from Money Dashboard & identify areas you could begin to make changes in.
The spend report looks at your historic spend data and shows you:
- Your average incoming vs. outgoings (based on your last 3 full months of data)
- This can help you answer the question of if you are spending more than you earn
- Your categorised spend in a typical month (based on your last 3 full months of data)
- This can help you see how much you are spending on things for the household like groceries vs. going out. You can dig into this further on your dashboard spend widget
- The 10 merchants you’ve spent most with over the last 12 months (based on the total spend from all your accounts, grouped by merchants)
- This can help you see who you are spending most of your money with. Any surprises?
- The 10 merchants you have most frequently visited over the last 12 months (based on total number of purchases from all your accounts, grouped by merchants)
- This can help you see spend with your spend by frequency and not just total value. For example in this list you might see your local coffee shop or Greggs – where you buy snacks regularly, but don’t spend a huge amount with each time. So over time it adds up – but you never actually get a sense of the value of your overall spend