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Starling “ spaces” and similar
Mayaboo
Posts: 126 Forumite
I’m hoping to start to learn to budget better. I find paperwork very overwhelming ( mental health ) I’m now feeling ok enough to start tightening up to look at what I’m spending.
It’s not my main bank account t but I’ve got Starling and am trying to get my head around the “ spaces”
part of tne app. Will this be useful, can anyone explain it or recommend a tutorial
thanks
It’s not my main bank account t but I’ve got Starling and am trying to get my head around the “ spaces”
part of tne app. Will this be useful, can anyone explain it or recommend a tutorial
thanks
1
Comments
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Basically you're creating your own savings pots inside your account. For whatever bills, groceries, holiday, or rainy day help.
https://youtu.be/MFZDXcFXe_M?si=IRKGLb_tdRod26qc
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They just let you partition your account into different sections with the ability to have standing orders and direct debits coming out of the pots as you choose. It's similar to having multiple accounts but much more flexible as you rearrange everything on the fly.
Monzo do something similar with their pots. It's such a simple idea that can really help with budgeting, but for some bizarre reason none of the old fashioned banks have implemented anything similar.1 -
Plus Starling & Monzo let you gave direct debits come out of a space / pot1
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Thanks. I find this stuff overwhelming. I guess I’ve just got to get stuck in and do it then all will become clear .0
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