Yesterday i watched the recent Ask AC session. It was feature packed with a backwards looking retrospective as well as a look to the future. I really liked it, and would love to have something similar on maybe a quarterly basis.
One thing that caught my eye was Dozens 2.0.
I’ve said in a few places around the internet that the holy grail (for me, at least) is being able to clearly and simply see my whole wealth in one place and how that changes over time. That means bringing together spending, savings, investments, debts and assets in one place. And potentially being able to model what different decisions might mean for future wealth.
While it was a fairly brief introduction, it was heartening to see that Dozens 2.0 might do just that by bringing in external accounts through open banking and doubling down on the spend, save, invest lifecycle.
A few thoughts on v1 from me to help inform the update:
- While i was a big fan of the initial, feature-packed, release of Dozens, I soon found it a bit over complex and overwhelming. I’d really like to see a focus on simplicity, but in a way that keeps the power and the insight. A difficult combo to manage but, i think, essential.
- Some of the v1 features felt like they got in the way. For example, the “…” to the right of transaction values to prompt for a happiness rating make me irrationally irritated. They take up space and prevent neat alignment of figures (in my mind the whole purpose of the transaction list). I’m not suggesting that things like this get removed, just a more elegant way of keeping them in the app which is unobtrusive.
- And finally some of the really core features need iteration. For example, I’ve had transactions come up as “unknown retailer”. High street banks would show the raw name from their card processor, and Monzo and Starling would have an enriched name, but also the raw name at the bottom. Yet nothing in Dozens.
- it’d be great to see some of the features that have (or should have) made their way into Monzo and Starling: notes, tags, custom categories etc.
- open banking data should really (in my view) be as native as possible. So access to all budgeting and other functions - and the ability to do whatever you can do to a Dozens transaction on an open banking one
- I’m not yet convinced on a social-type feed. Given the audience you’re after, I’m inclined to think an elegant, simple dashboard with charts, data and insight (what’s my net worth? how am i performing against my goals / the market? Is my budget on track? what options are there to improve performance?) pulling out atypical stuff that needs attention might be better (e.g. if you’re over budget or if your savings rate is no longer competitive). But keen to see what you come up with!
Loving your work. And really keen to see how this pans out. Poke me if you’d like an early guinea pig!
And, everyone else, keen to hear reflections in Dozens v1 below, what’s missing compared to other apps, and your aspirations for 2.0!