Savings 'Pots'

[nevermarryamitford]

Sorry if this is obvious but I'm just starting out figuring out how to structure my finances and it's not coming naturally..

When people refer to having lots of pots for savings i.e. one for bicycle repairs, one for replacing carpets, one for holidays, one for gardening etc do they mean having an actual separate account for each of these random things?

I've just moved to a more expensive house, and threw every last penny into it. I have a current account and a savings account. There is also a joint savings account which DH and I use for large kids expenses, as my parents like to throw money at us for the grandkids. That was our emergency money if the house sale had gone over budget (we would have paid it back).
The savings account is currently just one account, but down the line it will be a long term (for when the car dies) and short term (a few hundred for additional expenses that might crop up). I don't need Xmas and holidays in separate accounts, they are at different times of year!

Joint account, Me separate account ( hardly anything going on bar child benefit as am a sahm). DH added together, mortgage, all bills per month. What's left? Between what's left divisions into petrol or travel, food, weekly activity.... that's basic too live. What's left? Divide what's left into Xmas savings, bdays and holidays... take out of Bank and file it away separately. Savings tins, hidden etc.

Each month leaving bill money in bank draw out monthly expenses and divide weekly

I'm with Lloyds and have multiple accounts. My own, for spends and shopping. A savings one that I dip into when I've had an expensive month for car insurance etc. One for each of the kids for when they hit 18. One that DH and I both pay into and the family allowance goes into too, which we use for Christmas, birthdays and holidays. A savings account that I don't dip into, for longer term. And a final online saver account that gives a good amount of interest, which I pay the most into that I can.

I can easily swap money between accounts on the computer or my phone/tablet.