The categories Jeff Banks sorts your spending into.

Spending and income at home fall into 23 categories, from rent to payroll, and Month labels 6 of them “Fixed”. Two more set aside transfers between your own accounts and what you choose not to count. Inside the app they keep their Spanish names for now, shown here under each one.

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The home.

The cost of having a home and keeping it running.

Rent and mortgageAlquiler e hipotecaFixed: The rent on your home and its deposit, or the mortgage.
HomeHogarVariable: Furniture, DIY, homeowners' association fees and laundry.
UtilitiesLuz, agua y gasFixed: The bills that depend on how much you use, bottled gas included.
InsuranceSegurosFixed: Policies such as car or home insurance. Those of the health insurers Jeff Banks recognizes go under “Health and fitness”.

“Fixed” and “Variable” are the label Month gives each spending category in its table. No total changes because of it.

Day to day.

Spending that varies month by month, such as groceries or trips.

GroceriesSupermercadoVariable: Shopping at the supermarket or at local shops, such as the greengrocer or the bakery.
RestaurantsRestaurantesVariable: What you spend in bars and restaurants, food you order in included.
TransportTransporteVariable: Fuel and parking if you drive, or taxis and the metro if you don't.
ShoppingComprasVariable: Purchases in shops or online, such as clothes or electronics.
LeisureOcioVariable: A cinema or concert ticket, or a video game.
Health and fitnessSalud y deporteVariable: The pharmacy, the dentist or the doctor, and the gym as well.
EducationEducaciónVariable: School or nursery, an academy or a course.
TravelViajesVariable: Plane tickets, hotels or the car you rent on a trip.

Payments that repeat.

What is charged every month or every year, such as a phone plan or a loan instalment. Payments gathers these charges under Subscriptions and Debts.

SubscriptionsSuscripcionesFixed: What series or music platforms and paid software charge you.
Phone and internetMóvil e internetFixed: Your carrier's plan, which usually bundles the phone line and fibre.
Loans and creditPréstamos y créditosFixed: Personal loans, revolving cards or instalment purchases. A mortgage goes under “Rent and mortgage”, and Debts still lists it.

Income and savings.

Your pay and your savings, along with the charges that fit none of the other lists, such as fees or taxes.

SalaryNómina: Payroll or a pension, extra pay included, when it comes into your account.
IncomeIngresos: Any other money you receive, such as interest on an account.
TransfersTransferenciasVariable: Money you send to other people or receive from them, by transfer or by Bizum. It counts as income or as spending.
Savings and investingAhorro e inversiónVariable: Savings pots, pockets, pension plans and investment funds.
CashEfectivoVariable: The money you take out at the cash machine.
FeesComisionesVariable: The fees your bank charges you.
Taxes and chargesImpuestos y tasasVariable: Your income tax return, property tax or a fine. Also what you pay the town hall or social security.
UncategorizedSin categoríaVariable: Spending the rules do not recognize.

Outside your income and spending.

With these two, the movement shows in its bank and changes the balance, but it adds to neither your income nor your spending for the month.

Transfer between accountsTraspaso entre cuentas: Both sides of a transfer between your own accounts.
Left out of the P&LFuera del P&L: What you choose not to count, such as money a friend pays you back.

How a transfer between your accounts is recognized.

An outgoing movement from one of your accounts and an incoming one in another become a “Transfer between accounts” when they have exactly the same amount, in the same currency, at most 3 days apart, which is how long a transfer sent on a Friday takes to arrive on Monday. Both accounts must be in your workspace, and another sign is needed, such as a description that names the other account's bank. If the money arrives in another currency, in two parts or with a fee taken off, they are not paired.

Changing a category.

Open a movement to give it another category, hand it back to the rules, or move it to one of the two categories that take it out of the month. Your choice wins over the rules and over Banks AI. Move it to “Subscriptions” and Payments counts it as a subscription; with “Loans and credit” it shows under Debts. With several selected, the bar changes them all at once and lets you undo it for a few seconds.

What Banks AI does with your categories.

With Premium, Banks AI looks at the movements the rules can only guess. When it is confident enough, it categorizes them, and the movement says it was Banks AI and with what probability. When it is less confident, it may leave a suggestion and the category stays as it was. It never touches what you chose, the merchants Jeff Banks already knows, paired transfers, or cash withdrawals and fees.

Your own categories.

With Premium you create up to 50 categories of your own, such as “Pets” or “Car”, with a name of up to 40 characters that no other category has. When you create one, you choose which category on this list it counts as, and that one decides its icon and how Payments and Banks AI read it. Month adds up each of yours separately, under its name. If you delete one, its movements go back to the category it counted as.

Questions

Which category do insurance and rent go in?

Insurance goes under “Insurance”. If it comes from a health insurer Jeff Banks recognizes, it goes under “Health and fitness”. Rent goes under “Rent and mortgage”, with its deposit and with the mortgage.

Which categories does Month label as fixed costs?

Month labels these 6 categories “Fixed”: “Subscriptions”, “Phone and internet”, “Rent and mortgage”, “Utilities”, “Insurance”, and “Loans and credit”. The other spending categories are labeled “Variable”.

Can I create my own categories?

Yes, with Premium, and you use them on your movements like the ones on the list. With Free you have the ones on the list and can change any movement's category, one at a time or several at once.

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