How I Manage My Credit Card Spending With Open Banking

So why would anyone want to do this? For me it was when I was experienced enough to learn that credit cards aren’t the devil and if you use them properly, you can be a lot smarter with your money. I got to the point where I was paying for everything with my Amex (to get that juicy cashback). However, it was hard to keep a track of how much I have to spend for the rest of the month.

Monzo Plus does have a feature to show your balances but I wanted something that was a bit more restrictive and really didn’t let me go over my budget. I already have a direct debit set up, was there a way to set aside how much my balance is so when it came to the payment day, the money could come out of there? Monzo has these things called pots where you can set aside money. If I could get a way to move money to a pot when I spend on my Amex, we’re in business.

Version 1

After some googling, I came across forums where people were using the IFTTT integration with Monzo to move money into a pot. Awesome! I had to figure out how I could trigger a webhook to move money to a pot. This is where I learned about webhooks and HTTP requests and in the process came up with a solution to run an iOS Shortcut every time I spent money. This would perform a GET request to my IFTTT Webhook endpoint which moved money into my pot! This

TBC