Putting Money Aside I Can't Touch

FrancisBegbie

Hi everyone,

I’m looking for some advice on saving habits and building a bit more self-discipline.

Each month I round up my spending in my Chase account, which usually comes to around £100. The problem is…I end up withdrawing it every time. I also put some cash aside in a tin, but I usually dip into that every couple of months too. Basically, because I know the money is easy to access, the temptation wins.

I’ve just opened a locked Monzo pot, but I’ve heard you can still unlock it fairly easily, so I’m not sure it’s going to solve the issue.

Does anyone have suggestions for more “hidden” or harder-to-access places to keep savings? I’m not looking for investment advice—just practical ways to keep money out of sight and out of mind so I can actually save it.

Thanks!

Kim_13

Either a notice account or a Fixed Rate ISA with a longer funding window - you can get at the cash in a Fixed Rate ISA, but only by paying a penalty. For fixed rate ISAs, consider Suffolk (funding window of the end of the tax year) then repeat, Kent Reliance or Shawbrook. For notice accounts, see here: https://moneyfactscompare.co.uk/savings-accounts/best-notice-accounts/

MisterMotivated

Zopa offers 'Boosted' pots within their Smart Saver, where you can deposit the money but then you need to give noticed to access it (either 7, 30 or 95 days).  The interest rates aren't the best but, if temptation to spend is your concern, these pots could help with that as you wouldn't be able to access the money immediately.

grumpy_codger

If it's some smallish amount every month, then a regular savings account that doesn't allow withdrawals (most do) is the best option.

E.g. https://www.principality.co.uk/home/savings/savings-accounts/christmas-2026-regular-saver-bond - up to £150 each month, 6.5%, matures after 12 months, no withdrawals allowed.

When it matures you put the saved amount to some fixed rate or notice account.

chiang_mai

I like my HSBC UK account because the monthly bonus saver pays me a decent rate of interest, as long as I haven't made a withdrawl that month. If I do make a withdrawl, the interest is reduced to a paltry level....it's a good incentive not to dip in and also to forecast more accurately your probable expenditure.

JGB1955

chiang_mai said:

I like my HSBC UK account because the monthly bonus saver pays me a decent rate of interest, as long as I haven't made a withdrawl that month. If I do make a withdrawl, the interest is reduced to a paltry level....it's a good incentive not to dip in and also to forecast more accurately your probable expenditure.

Atom have a similar Instant Saver account.

Bigwheels1111

The ideas above are ok, the way I did it was to give spare cash to my Dad.
He put it into an isa.
Getting older and going to ask my Dad if I could borrow my own money back was embarrassing.
So helped me, be more disciplined and budget better.
Whenever I needed money, as I did from time to time, my Dad would lend me his money.
( That is how he described it ).
So I had to pay him back.
A few years later I wanted to buy a house, Turns out with his help managing my cash I had a 30% deposit.

Now many years later, I’m in a sort of good position.
Life, Love and loss got in the way.

In 2 years I aim to buy a house again for cash outright, furnish it, new car etc.
Do all of this and have £50,000 to £100,00 in reserve for retirement.

I live on the interest from my first house sale.
I even save a bit of that each year, I now work full time and save every penny.
Around 20k a year after tax.

I have 22 regular savers, full funded. 5.5% to 7.5% interest.
I need 5k on the first of the month to cover these.

All this becomes a habit.

I still have things I want, Car, phone, pc, iPad Pro.
I just don’t buy everything I see or think I want.

Good luck with your journey.

saajan_12

FrancisBegbie said:

Hi everyone,

I’m looking for some advice on saving habits and building a bit more self-discipline.

Each month I round up my spending in my Chase account, which usually comes to around £100. The problem is…I end up withdrawing it every time. I also put some cash aside in a tin, but I usually dip into that every couple of months too. Basically, because I know the money is easy to access, the temptation wins.

I’ve just opened a locked Monzo pot, but I’ve heard you can still unlock it fairly easily, so I’m not sure it’s going to solve the issue.

Does anyone have suggestions for more “hidden” or harder-to-access places to keep savings? I’m not looking for investment advice—just practical ways to keep money out of sight and out of mind so I can actually save it.

Thanks!

What sort of motivations / disincentives usually work for you? Eg 

* is it the practical ease of access -> then could a telephone banking only option work?
Payments in would likely still work with bank transfers but if you need to call to withdraw or move the money, by the time you wait for opening hours and through the hold music, you might remember your overarching goals. 

* is it the financial incentive -> then a 1 year fixed rate account or notice account, where you have to request a closure request and a penalty to withdraw early

Emmia

FrancisBegbie said:

Hi everyone,

I’m looking for some advice on saving habits and building a bit more self-discipline.

Each month I round up my spending in my Chase account, which usually comes to around £100. The problem is…I end up withdrawing it every time. I also put some cash aside in a tin, but I usually dip into that every couple of months too. Basically, because I know the money is easy to access, the temptation wins.

I’ve just opened a locked Monzo pot, but I’ve heard you can still unlock it fairly easily, so I’m not sure it’s going to solve the issue.

Does anyone have suggestions for more “hidden” or harder-to-access places to keep savings? I’m not looking for investment advice—just practical ways to keep money out of sight and out of mind so I can actually save it.

Thanks!

I have Premium Bonds as part of a mix of savings/investments for this kind of reason - I don't have the app so I must log in online (hurdle 1). As it's separate from my bank accounts I don't "see" it when logging into them... So I sort of "forget" I have the money (hurdle 2)

It is accessible though, so if I really need it I can get it - it's essentially my emergency fund.

friolento

FrancisBegbie said:

Hi everyone,

I’m looking for some advice on saving habits and building a bit more self-discipline.

Each month I round up my spending in my Chase account, which usually comes to around £100. The problem is…I end up withdrawing it every time. I also put some cash aside in a tin, but I usually dip into that every couple of months too. Basically, because I know the money is easy to access, the temptation wins.

I’ve just opened a locked Monzo pot, but I’ve heard you can still unlock it fairly easily, so I’m not sure it’s going to solve the issue.

Does anyone have suggestions for more “hidden” or harder-to-access places to keep savings? I’m not looking for investment advice—just practical ways to keep money out of sight and out of mind so I can actually save it.

Thanks!

There are numerous Regular Saver accounts which don't allow withdrawals before maturity. In most of these accounts, you can contribute once or several times a month, whatever suits you best.  

When the account matures, usually after 12 months, you can either spend all your money, or lock it away in a fixed term savings account, for between 1 and 5 years, or a combination of the two approaches. And/or start another Regular Saver.

CarUK_Guy

Hey! One practical trick is to create a “no-touch zone” for your savings. I once kept a small cash stash in an envelope hidden inside an old book on a high shelf, something you’d never think to grab when bored. At the same time, I had a small portion in a separate bank account that I could only access online, not in person. By splitting it between inconvenient physical and online locations, I tricked myself into saving without even noticing. Over time, it became easier to resist dipping into it because I had built in natural barriers.