The 'What's the best bank for piggybanking /jam-jar accounts?' Great Hunt

BobbinAlong

I have Halifax Reward current account plus a basic current acount for ebaying plus several web savers for annual bills, car expenses, fuel, holidays etc etc. Then there's a Nat West current and Reward Reserve which are the spending part of my house extension fund.
Plus the e-ISA which rate tarts between the Halifax and the Nat West each year.
Everything has to be manageable online for me and when the credit card bills come in (yes I need the clubcard credit card points for the holiday eurotunnel) then I spend an hour or two juggling my pots to allocate the funds to pay it off according to spend.
OH thinks I'm great with money but it caused so many rows with ex.

Jo4

Intelligent Finance allow you to have eight pots which you can rename although they are reducing their interest rates shortly.

Archi_Bald

Jo4 wrote: »

Intelligent Finance allow you to have eight pots which you can rename although they are reducing their interest rates shortly.

Intelligent Finance no longer take one new customers. http://www.if.com/

Welshlassie

I have tried a variety of systems over the year, including having accounts for different things and envelopes. What works for us now is using softare called YNAB (You need a Budget), it has iphone and Android apps and makes keeping track of our money so much easier.

I found lots of accounts complicated and remembering to move stuff out of one into an other. I've also tried spreadsheets with not very much luck.

Although YNAB is £40ish to buy, I got our copy through Steam for about £7 in the summer. It's worth it's weight in gold and I was willing to pay full price for it after using i t for a month. We are definately financially better off now than we were this time last year.

mama67

I have multiple 20 odd savings accounts with Smile, which are my envelopes

We have a Santander business account and I have a Santander account which the d/d come out of.
DH has a RBS current account.

It took a bit of setting up but each week a figure is paid into the bills account and then payments are made into the various savings accounts.

I also have a tupperware with coin bags in for things I will need cash for like haircuts, karate grading fees, things that don't cost alot but its handy if in cash.

This works for us

xxdeebeexx

I use Bank of Scotland and have several 'pots' in one account.


I Rename the account according to the amount in each 'pot'


There are about 39 characters that can be used so, the name of my account might look like...


Xms 329.0 Ctax 50 Dg Ins 42 hol 2800


I update the 'name' each time I pay in to a 'pot' for example


Xms 331.0 Ctax 50 Dg Ins 42 hol 2820


This way I can get 3% interest on my money.


hth


dx

bsms1147

xxdeebeexx wrote: »

I use Bank of Scotland and have several 'pots' in one account.


I Rename the account according to the amount in each 'pot'


There are about 39 characters that can be used so, the name of my account might look like...


Xms 329.0 Ctax 50 Dg Ins 42 hol 2800


I update the 'name' each time I pay in to a 'pot' for example


Xms 331.0 Ctax 50 Dg Ins 42 hol 2820


This way I can get 3% interest on my money.


hth


dx

When you start going down routes such as this a spreadsheet sounds easier and makes more sense.

xxdeebeexx

bsms1147 wrote: »

When you start going down routes such as this a spreadsheet sounds easier and makes more sense.

Ah but you need to know how to work them!


I haven't got a clue how to set up a spread sheet, so this method makes perfect sense to me.


dx

b22

Piggy banking is fab!
For years I have used ING direct for lots of accounts, Xmas, car expenses,holidays,household expenses etc
They have now become Barclays so not sure how the new system works as my 6 accounts have been in place for a long time.
My original current account covers direct debits and have a separate account for food/petrol
May sound complicated but works for me

Tiglath

One current account, one ordinary savings account, one cash ISA, one stocks & shares ISA, and a complicated spreadsheet