Back when I took the pill (years ago) I was told to start on the sugar pills on the first day of AF. (I was on monofeme as well & they had days labeled I think.) I always started on the day of the week in the sugar ones.
I think from memory it slowed/stopped mine, but cen't remember. Sorry. I don't think I ever did it that way.
I was told to start with the sugar pills when AF started as well.