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Original poster

Better money habits for 2022

33 replies

penguinwithasuitcase · 29/12/2021 20:30

I really want to take on my finances this year - specifically around tracking my income and outgoings and saving more.

"Take care of the pennies and the pounds will take care of themselves", as my grandad always said.... now it's time to put it into practice!

What habits / tools / apps do you use that I could start applying to do a better job of managing my money day to day?

And if I can automate it, so much the better –if I have to manually build a spreadsheet and put everything in I'll stop doing it by February!

OP posts:
Hoppinggreen · 31/12/2021 12:07

@Whatliesbeneath707

Can I ask if Plum, Monzo and Starling are all very similar types of accounts?
I don’t know about Plum but monzo and Starling are similar We tried to go with Starling but while they let me open an account DH was turned down despite earning well and with no credit issues at all. To have a joint acct you both need individual ones so I had to close my Starling and open a Monzo as they accepted him. Bit baffling and annoying but there you go I love my monzo account, it’s really made a huge difference to my spending
scratchedbymycat · 31/12/2021 14:58

I find this all quite confusing. Mondo and Starling can link into Plum S well, as per link below. I'm not sure why you'd need both, or what Plum offers that the others don't.

blog.withplum.com/monzo-starling-smarter-connections-and-plum/

scratchedbymycat · 31/12/2021 15:06

Maybe I worked it out. I think Monzo and Starling are app only bank accounts. Plum works alongside bank accounts (so therefore also Monzo and Starling) as a savings and investment tool. So Plum is an app you use alongside your bank accounts.

moneytothemasses.com/banking/the-best-money-apps-you-should-have-in-2020

babouchette · 31/12/2021 15:50

My new year's resolution is to check my bank balance and credit card statement every single day. My spending got way out of control in December because I stuck my head in the sand and I ended up having to use up all my cash savings to pay my Amex bill.

No more! From now on I will know exactly how much I can (or can't) afford to spend.

Original poster
penguinwithasuitcase · 31/12/2021 20:18

It is 8:20 on NYE and I am sitting under the dining room table with my terrified-of-fireworks dog and a glass of Cava, trying to learn YNAB.

You guys... I don't know if I'm the coolest person alive or the biggest loser on the planet Grin

OP posts:
ginislife · 31/12/2021 20:26

I use Chip and Moneybox Apps to auto save regularly. They track your bank account and transfer saves every few days. Moneybox account is a S&S ISA and I'm currently earning 18% on it. I've got the saves set up quite aggressively and so have saved over £10k this year and not missed it - but I can transfer it back if I was short.

Hooveslikejagger · 14/02/2022 10:15

Try reading/borrowing from the library by Pete Matthew.

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If you are on FB, join his group for loads of tips.
He also has loads of free podcasts to listen to, but these are quite specific so you probably need to cover the basics first, which the book of great for. Then delve deeper into the areas you want to focus on.

You are making a great start with YNAB (the book above talks about this), but if you read the book you’ll get a steer in the direction that you need, depending on your age, circumstances and current financial situation.

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