Insights | What's the right way to track? šŸ¤”

First of all I believe neo bankā€™s primiary moto is that it strives to provide simpler and more efficient finanical/banking services to the average users.

Secondly if I click the insights in the jupiter app and if I see my spending is higher in groceries, shopping etc., I could instantly recognise where these regular expenses were made. Beecause I already know very well where I do regular shopping. For instance if I see high spending under shopping I instantly know that Iā€™m spending more on Amazon. For others it could be local store where they do regular spending and they could also instantly able to recognise the same.

So my argument is that the extra step Location heatmap sounds cool but not necessary as it just an extra step into insights.

Just my view. Others could feel different.

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Everyone can have different definitions regarding what neo-banks means to them. I think your POV is also correct, however I look at it more from an enthusiast standpoint.

agreed on that front, but not every merchant is sophisticated when listed on your statement. Some would have very weird names and at that point in analysis youā€™ll keep scratching your head about where that payment was made. In case you make a lot of digital payments.

I canā€™t comment anything on that honestly. Because we can have different use cases. Although I know in terms of having scalability, it is a terrible idea. But enthusiasts might be into it.
However, thanks for the conversation. really appreciated

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Its good to know your ideas. Cheers

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same to you. cheers :beers:

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Iā€™d absolutely love this! Reminds me of Snapchatā€™s stories map. Fun, lively, interactive, and coooooooool!

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Psstā€¦ you can soon custom tag your transactions and filter view them on insights! :eyes:
This will be rolled out soon.

As you can see, there will be a tagging section in the transaction details below.

In insights, youā€™ll see a filter option and the tags you have created.

And if you click on the tag, it shows you all the transactions for that particular tag.

What do you guys think?

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Sounds like a plan! Way to begin March, Team Jupiter.

Iā€™m curious about how Jupiter handles insights about my other bank account though. UPI works with my other bank, so I ended up using that bank as my primary in Jupiter for my mainstay (until you guys fix my Jupiter UPI linkage problem).

The concern is, would Jupiter recognise those transactions done with the other bank UPI and add it to my account insights info? Or is it just Jupiter UPI transactions?

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@nateavi Itā€™s only for the the transactions you make via Jupiter account. Including credit transfers!
This also includes using Jupiter UPI on other apps.

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Ouch. Itā€™d be awesome if Jupiter could tag transactions done via other bank UPIs too. Technically, arenā€™t they going through Jupiterā€™s app?
I can see them in the transactional records.

Itā€™d be cool. But I understand if there are challenges to pull that integration.

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Please introduce custom categories.

This feature is so close to the already existing feature set that building wonā€™t take much time and the effect on usability will be enormous.

The single most important feature to me is the categories feature. Every transaction is categorized, and the data makes personal finance[at least expenditure] so nice and clear. But a selected few categories donā€™t work for everyone. Students will want different categories than professionals, and different professional will want different ones too.
I did try adjusting to the given ones, but itā€™s simply frustrating to have the feature and then not be able to categorize the things I want to.

Now I have to remember, ā€œThis thing I have put under servicesā€ and these under" miscellaneous" and these under ā€œpetsā€ because I need a category and I have no pets. The existing number of categories might do the work very well, if only Jupiter could add custom categories.

The tags feature is too many clicks for instant regular use, couldnā€™t keep doing that after trying it for a dozen or so transactions.

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I concur. We need to add more categories, if not a few custom categories that we can choose.

@Shawnpinto please make sutta category happen.

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Hey,

Thanks for reaching out!

Firstly, please donā€™t think weā€™re going to keep the categories exactly the way they are now. Weā€™re constantly learning and will adjust them to make them more useful - adding new, splitting some and maybe removing too. As you highlighted, they might not be ideal and thereā€™s surely a lot of room to improve.
Regarding tags and custom categories - Both features have pros & cons:

  1. We are working on making Tags more smarter & easier to use - weā€™ve seen people using it for various purposes (ex. Tracking food, chai, coffee etc). It will definitely start to add more power to tracking + be more personal since categories as wider buckets will need further divisions. Tags can be super powerful to use as multiple categories under one big bucket.
  2. Regarding custom categories - If we allow a way to create more categories, we wonā€™t be able to aggregate transactions in a meaningful manner to provide you with insights / reports. Ex. We wouldnā€™t be able to cohort level analysis such as ā€˜People similar to you spent 45% more on Dining outā€. Bear with me, weā€™re working hard on delivering Insights to you super soon!

And, this probably sounded a bit vague but have faith, weā€™re finding ways to build out better features that can help you keep control of your money in a custom way while maintaining your existing mental models of tracking.

Since you seem like a power user (yay!), what categories have you found to not work for you at all so far?

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looks promising but taking too long !!!

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I donā€™t use pets and charity at all. I expect to use a few others rarely.

The existing categories do make sense when viewing through the perspective you presented.
The things that donā€™t seem to fit any category is ā€œSpecial Occasionsā€.

Tags being easier to use would be really great. Presently, adding tags is too deliberate a process. Maybe, something like ā€œWe auto-tagged your purchaseā€ and then selecting or adding tags might help make it easier.

While we are on the topic, say I buy two lightbulbs, a pedigree bag, and some groceries from the nearby kirana; noise enters insights as this is ā€œgroceries+petsā€. If this becomes a regular thing, then the insights are more noise than data. I have been there a few times. I am not sure if this is an edge case or a regular occurrence with others.

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Blockquote

I circumvent this by tagging the merchants. For example, the store where I usually buy my groceries gets tagged ā€œgroceryā€ regardless of the percentage of stuff I purchased that may not be groceries. Meanwhile sutta is tagged ā€œmiscellaneousā€ even if thatā€™d include eggs (can happen) or Lahori Zeera drinks.

@Kruthi_Purohit ā€”

Sure thereā€™s room for improvement, and I canā€™t wait for insights to fully roll in.
What irks me the most is that despite manually tagging transactions for over a month, auto-tag is still a hit or miss. 8 outta 10 times it picks the wrong tag. Hope to see more work on that front.

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What are Lahori Zeera drinks ? Are they good ?

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Can the team please stop the pots showing up in insights. My money out is annoyingly high because of multiple pots transactions. I have to manually check my money out which kinda makes the overview that insights is suppose to give, useless.

I understand the pots transactions showing up in the statement, but the insights should be smart enough to ignore them

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It seems, I wouldnā€™t know how much I spent on sutta at the end of the month with this method.

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I have the same problem.

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Sorry that doesnā€™t work for you. I can track mine here.

What I find necessary is to be able to tally the custom tags. Iā€™m not able to see the total, unless I grab a calculator which is a bummer

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