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Original poster

How do you (if you do) keep 'pots' of money if you're saving for something?

33 replies

AmeliaTangfastic · 19/02/2025 13:30

I don't want 5 separate bank accounts as I am a US citizen living abroad (UK). As such I have to report all my bank accounts opening, closing and their max balance every year 😩. It's a PITA

Anyway, I want to save for a few different things (Christmas, new car some day, build up my emergency fund some more etc etc). At the minute, I just stick it all in one saving account, but wonder if there is an easy way of keeping track of what I'm saving for each thing without opening new bank accounts.

So far I'm just thinking 'spreadsheet'

OP posts:
Kitchensinktoday · 19/02/2025 13:32

A spreadsheet works fine for me - I'm always saving for various things, and just have one bank account for all 'pots' and each 'pot' has its own column on the spreadsheet.

Bromptotoo · 19/02/2025 13:35

I believe there are accounts with 'jam jar' facilities.

https://www.moneyhelper.org.uk/en/everyday-money/budgeting/managing-your-money-using-the-jam-jar-approach

Dueanamechange2025 · 19/02/2025 13:39

We use Monzo, you can open and name pots.

You have the current account and then attached pots, we have a Christmas one, holiday one, hairdressers one, school dinners / bus fares etc

Ebananascroogey · 19/02/2025 13:39

Might mean opening one more new account, but Starling offer the option of spaces within an account. I have a space for every possible saving reason & just move to the main space that has a debit card when I need to spend. None of tge spaces have separate account numbers, so all just seen as one account.
They have awesome customer service too!

Imabitbusyatthemoment · 19/02/2025 13:40

Monzo

LeroyJenkinssss · 19/02/2025 13:42

monzo over here too. It’s fab - if you get plus, you can get virtual cards as well attached to the pot so you will only spend what’s in there. I use it for recurring card payments so I know there will always be enough in there.

BigPinkKnees · 19/02/2025 13:43

I just use spreadsheets. Different colours for each ‘pot’ to show money moving in and out of them.

ValentineValentineV · 19/02/2025 13:48

I have a Barclays account that has 10 pots that I have named.

HollywoodTease · 19/02/2025 13:57

Another vote for Monzo, you can have as many "pots" as you like but they are all within the same account.

I'm a fairly new convert to Monzo, I initially got it for the fee-free currency payments as I travel quite a bit but the more I use it the more I like it.

I'm only on the free version but I find it very user-friendly and easy and all my various savings goals are right there on my app.

Vettrianofan · 19/02/2025 14:01

My banking app offers you the chance to name different savings accounts for whatever purpose. It works for me.

Original poster
AmeliaTangfastic · 19/02/2025 14:19

Thank you for your replies! I honestly thought I wouldn't get any.

Lots to look into - thank you Flowers

OP posts:
wonderpetsrus · 19/02/2025 14:27

Starling also do this

boulevardofbrokendreamss · 19/02/2025 14:28

Monzo and Chase

Fuuuuuckit · 19/02/2025 14:37

Cash in an envelope?

muchadoaboutnuttin · 19/02/2025 14:40

I use YNAB so lots of my money is in the same couple of accounts but in multiple pots in YNAB.

Anonanonandon · 19/02/2025 14:45

Kitchensinktoday · 19/02/2025 13:32

A spreadsheet works fine for me - I'm always saving for various things, and just have one bank account for all 'pots' and each 'pot' has its own column on the spreadsheet.

This works for me too

Wantitalltogoaway · 19/02/2025 14:59

Zopa.

You can create different money pots and ‘lock’ them with either 31 or 90 days’ notice and you get a better interest rate. Plus it means you can’t touch the money in that pot instantly.

I have one for insurance, which I pay annually, one for self assessment tax, one for Christmas and one for holidays.

Lemonademaking · 19/02/2025 15:37

Ebananascroogey · 19/02/2025 13:39

Might mean opening one more new account, but Starling offer the option of spaces within an account. I have a space for every possible saving reason & just move to the main space that has a debit card when I need to spend. None of tge spaces have separate account numbers, so all just seen as one account.
They have awesome customer service too!

The problem with this is that Starling no longer pay interest on these balances. You only get interest in the savings accounts which don't have pot options. I'm so annoyed about it, I really don't want to change bank as I like starling but I don't want loads of different savings accounts.

FusionChefGeoff · 19/02/2025 16:02

I use YNAB for all budgeting and saving - works with your existing banks / credit cards and pulls in all the transactions then you allocate all the money coming in to pots and then take it out for every transaction.

It's a huge eye opener and saves us a fortune as well as meaning we know exactly what our money is doing!

Wantitalltogoaway · 19/02/2025 19:27

Lemonademaking · 19/02/2025 15:37

The problem with this is that Starling no longer pay interest on these balances. You only get interest in the savings accounts which don't have pot options. I'm so annoyed about it, I really don't want to change bank as I like starling but I don't want loads of different savings accounts.

Show quote history

This is why I prefer Zopa. 4.2% interest (was higher but obviously just gone down).

YellowSubmarine994 · 21/02/2025 20:54

Monzo has changed my life with their pots system. I have a pot for clothes, Christmas, holidays, car repairs etc.

It's brilliant

Lougle · 21/02/2025 21:06

I also use YNAB

nodtik · 21/02/2025 21:25

You need a Plum account!!

We have one and it's been a game changer, so easy to set up different pockets! Xx

User7288339 · 21/02/2025 21:35

I use You Need A Budget (YNAB) it has virtual "pots" within the app and has really transformed my budgeting. It's the best app I could find for it although it's annoying it's not free after the initial trial.

For things like Christmas or kids birthdays I set target in the app then put money aside monthly for it.

Also as soon as I get paid I allocate money to my different "pots".

B1indEye · 21/02/2025 21:40

HollywoodTease · 19/02/2025 13:57

Another vote for Monzo, you can have as many "pots" as you like but they are all within the same account.

I'm a fairly new convert to Monzo, I initially got it for the fee-free currency payments as I travel quite a bit but the more I use it the more I like it.

I'm only on the free version but I find it very user-friendly and easy and all my various savings goals are right there on my app.

Is unlimited pots new, I was trying to be super organized with savings pots for all different kinds of things and reached a point where it said I couldn't have any more.

I don't remember how many but I was going to be able to have a separate pot for each family members birthday/Christmas etc and ended up having to add them together