📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Bank account with strict budgeting pots?

Options
Hi,

I have maybe a strange question but wondered if anyone can help.

I am trying to budget very strictly and wanted an account where I can seperate money into seperate pots:

i.e.
Car maintenance pot - MOT's, tyres, etc
Children's clothing pot
Children's activity pot i.e swimming lessons, music lessons, etc
Going out fund i.e. movie rental, meals out, days out

I don't want to open loads of different accounts but want to know if anyone has any advice on how I could manage this well - if its all in a lump sum the same account it will be hard to keep track of what I spent and what is left for the other activities.

It would be good to be able to use a debit card when spending this money too.

Can anyone help with ideas or suggestions? :eek:

Thanks

Anna

Comments

  • Personally I have a current account and a savings account.

    Any long term spending i.e car repairs etc goes into the savings account with the everyday money in the current account (so that I can use my debit card).

    Then I have a spreadsheet for both accounts to keep track of what the money is for i.e electric, gas, food shopping, clothes etc and how much is spent during the month. You can then keep track of what is spent through the year to plan for next years budget or which months you spend the most on birthdays for example.
  • annamac_2
    annamac_2 Posts: 5 Forumite
    Thanks - thats what I do now but its not strict enough for me. We are always going over budgets and end up short in other areas.

    I just found this Which review of Personal Finance software which I think could be the answer for me. i.e. Banktree

    If you google "Which Personal Finance Software" it should be near the top.

    Thanks

    Anna
  • goodgirl80
    goodgirl80 Posts: 814 Forumite
    I have two current accounts and two online savings accounts, they are all in the same bank, can access all by online banking and transfer from one to the other. So my wages are paid in to one, I transfer my portion of the household bills to another (all household direct debits come out of this one) I 'piggybank' into the savings accounts for different things and just transfer amounts when I need to spend it.
  • Loughton_Monkey
    Loughton_Monkey Posts: 8,913 Forumite
    Part of the Furniture Combo Breaker Hung up my suit!
    This is not really a matter of bank accounts. More a matter of your own accounting software. Try MS Money or Quicken. Or even spreadsheets will do the job.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.2K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.2K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.