Spending control

On-the-coast

https://forums.moneysavingexpert.com/discussion/comment/82191430#Comment_82191430

agreed. And to extend, ensure you have no overdraft on that account. then get the cheapest 2nd phone you can that supports ApplePay / Google pay and install just that card for contactless.
question - how would you get home in an emergency if you’ve run out of money?

Malarky21

This seems to be moving away from the original question and into more personal stuff I don’t want to bring to this forum. I simply wanted to know if there was a way of not spending as much on a night out such as accounts that can block spending for 24 hours for example, or limit spending per day which can’t be reversed for 24 hours etc, using cash is an option but many places don’t take cash.

lr1277

Here is my analysis of the situation, take it or leave it.

You seem to want a solution where something or someone else controls your spending. Well as far as I can tell, banks (and credit card companies) never want you to be without access to your money incase you find yourself in a dire situation and access to money would have relieved that situation. So they expect you to exercise self control. If it was reported in the news that a bank didn't allow their customer to access money in a dire situation, depending on the circumstances, there might be reputational damage to the bank concerned. There is no upside for the bank.

Cash was suggested. You said not everywhere takes cash. Well can you only go to places that take cash? This may cramp the style of you and your friends, but would it be worth it? For you to decide.

I don't know how old you are, but can you decline invitations to nights out? Or are you the one inviting everyone out? I was in my late 20's or mid thirties before I started saying no to offers of a night out. You have to decide what is important to you. To sweeten the blow of saying no, you could take some of the money (and I mean some) that you would have spent on your night out and save it. Have a goal in mind for a 'toy' you want or an experience you would like to try. You need to find something more appealing than drinking and let that be your goal. Hope that helps.

Rob5342

https://forums.moneysavingexpert.com/discussion/comment/82192560#Comment_82192560

The closest I have seen is Monzo. They let you put money in a pot and lock it until a certain date, however it's easy to unlock it again in the app so it wouldn't really help much. They also have the option to require an additional control for bank transfers over a certain amount, which can be approval from a second person or being at your home address. You could use that to stop you making transfers when you are out which might help if you had a second current account. Other options I can think of are putting the money in a savings account that takes a day for withdrawals, having a joint account so someone else can see your spending, or having a Starling connected card on someone elses account.

Ultimately you are always going to be able to get hold of your money if you have your phone with you, you can introduce a bit of friction but that also makes it more difficult to get your money should you need it for an emergency that arises.

lr1277

I have never had or used one but there is such a thing as a pre-paid debit card. Load it up before your night out then ensure only that card is on your phone.

Downsides: the web says not everywhere accepts them. That suggest hotels and car hire companies won’t accept them because of the security deposit angle. Potentially a bar or a club might not accept such a card but I don’t know as I have never had one.

You may not have enough money to pay for an emergency.

I believe some cards charge a fee for using the card. You decide if the fee is worth your goal being met.

Upside: you load it up before your night out go out with your budgeted amount then off you go. Make sure it is the only card you have on your phone when you go out.

There is a UK Mastercard prepaid debit card site which lists various providers. Perhaps start there.

Mastercard UK pre paid debit cards