Spend Categorization - Tags vs Custom Category

[arp4na (Arpana)]

Spends Categorization, would you rather have a Custom Category or Tags option?

• Custom Category suffices
• Tags suffice
• Need both. If yes, could you give us an example?

[razack (ABDUL RAZACK K P)]

Welcome to the community, @arp4na ma’am. It’s great to see the Jupiter Family growing.

When it comes to categorizing my expenses, I usually stick to general categories such as food, recharges, and travel. I prefer using Custom Categories as they offer a simple and straightforward method to organize my spending habits.

[saurabh.s (Saurabh)]

I would prefer the custom category, as it offers better flexibility to me. With a custom category, I can easily create a category that fits my specific spending habits and track my expenses accordingly. I can also easily add or remove categories as needed, which makes it a more dynamic and customizable option.

[yagnesh01 (Yagnesh Kubavat)]

Hi Arpana, the custom category would be a great addition. Currently insights rely on the spend categories for showing the break down where at times, certain spend categories have to be categorised to closest possible match. The custom category will definately help as it will allow users to categorise their Expenses that best suits their tracking approach which inturn ensures more meaningful insights.

[arp4na (Arpana)]

Thank you all, for your inputs. We will use this to inform the roadmap here.

[razack (ABDUL RAZACK K P)]

You’re welcome Ma’am.
We, the community members, are always pleased to assist in the enhancement and growth of the Jupiter app.
I appreciate the opportunity to be a part of it.

[gauravsk (Gaurav Kangane)]

Hi, custom categories will go a long way to make insights actually insightful.
This feature is a must-have. Right now the categories Jupiter offers do not cover many areas.

What I think could be an addition to this feature would be category groups.
For example, I can have multiple categories like Stocks, Mutual Funds, P2P lending, Deposits, PPF etc. and all these categories will be grouped under the ‘investments’ category group.

So now, when I check my insights I can see what I have invested in a time frame and I can even drill down further to see the breakup of where I have invested.

[chrisrohitbrendan]

Need both, here’s why:

• As stated by Yagnesh, certain categories are missing and so one has to default to closest possible match which isn’t useful
• Tags would help me couple transactions in a way to understand how much I spent in Goa last week. I also use tags like “wtf” to track impulse purchases. Tags also help me track who owes me

Apart from this, there’s another problem:

• Transactions should some times cancel each other out. For example if I spend Rs. 20,000 on shopping, but get the entire thing refunded, then my shopping insight should ideally be 0

Would recommend looking at lunchmoney and how they do things to get some insights here

[sani (Sani Rui Das 🚀)]

Some days ago I saw a form . Where is the topic ? Is it deleted ?

[razack (ABDUL RAZACK K P)]

are you looking for that card sorting activity?

Let's understand how you bucket your spends with this small activity!

Hi everyone, We are doing a quick card sort activity to see how people bucket their spends. [Bucket spends] This will help us improve categories for money-out/money-in tracking. It will also give us inputs on what level of customisations people need with categorisation. We would want everyone of you to participate to get a holistic view. And guess what, we are giving Amazon gift vouchers worth Rs 500 to 5 lucky participants. You can access the activity from here. More details are on…

or this one?

Inclusion of Categories and Tags beside every transaction in the Excel statement?

poll [Screenshot_5] Would look something like this.

[Abhishek_Ulayil]

Upto you, choose whichever one you find appropriate.

[saurabh.s (Saurabh)]

Spend categorization is a personal matter, you can do it according to your own preferences.

[yagnesh01 (Yagnesh Kubavat)]

That is the logic of tracking apps that you take the effort of tracking every expense. If you okay with an app getting access to your SMS and auto classify every transaction with only minimal effort from you to check and make corrections, suggest you use Axio which is available for Android only.

[yagnesh01 (Yagnesh Kubavat)]

BNPL is one of the products they offer. You do not have to use it. You can use its budget and transaction tracker only.

[DigitaL (Tamal)]

The best and most secure method for transaction tracking is Account Aggregator.
AA platform is still developing… with addition of upcoming credit card & loan data tracking… it will be a complete personal finance management system

[MAHILAL]

Implement an intelligent transaction categorization feature that automatically categorizes expenses based on transaction details. This can provide users with a clear breakdown of their spending patterns, making it easier to track and manage their finances.

[MAHILAL]

It’s important to note that transaction categorization in mobile banking is reliant on accurate transaction data. Users should review their transactions periodically to ensure proper categorization and make any necessary adjustments. Additionally, users should ensure that they have granted the necessary permissions to the mobile banking app for collecting transaction data.

[razack (ABDUL RAZACK K P)]

@MAHILAL

Implement an intelligent transaction categorization feature that automatically categorizes expenses based on transaction details.

I think this feature is already there in Jupiter app. You also have the freedom to edit the category as well.Further, Jupiter is testing its improved version

You can get more info here:

Improving your categorisation experience

Greetings! I’m Manik from the Design Team I want to share a sneak peak on something which is cooking at the Categories section in your very own Jupiter app [banner] What’s coming? The categorisation experience could be better and we’ve tweaked it a bit. However, we wanted our Community’s help in deciding what works best for you and us This is what it looks like right now: [Current] How it could look like: Grid and boxes [1] Rectangular pills [2] You c…

Spend Categorization - Tags vs Custom Category

Spends Categorization, would you rather have a Custom Category or Tags option? [Tags vs custom category] poll

[MAHILAL]

Oh thanks you.

[rOhan_mali]

Enhance App Experience with Tea and Coffee Tags

I’m a fan of this payment app, but I kindly request the addition of tea and coffee tags. It would greatly improve the app’s functionality for tracking expenses related to these popular beverages.