Is there an account with "pots"

Gemmzie

Intelligent Finance do I have 10 savings jars for different things, my mum currently has 14.
And they can link it to a current account and make automatic deposits. I have my current account with them, so I get paid, everything goes into the jars so whats left in my current account is mine to spend.

SwitchyChick

My MiL would love this - she still has the actual jam jars in her cupboard, despite me nagging her to stop. She even has one for 'when I need a new washing machine'. And she takes money out of her interest-earning account to feed the pots. I ask you!

choccyface2006

Another way of doing this might work for you, it does for me.

I have different accounts for spending, saving, bills etc.. but sometimes I want to break things down further so I use Microsoft Money (you could use Excel) and I set up a non-exsitent transfer in Money only to an account that may or may not exist (rather than a provision or payment which would be interpereted as an expense) for different things within one account.

For example, I have got my holiday savings in my isa but also money for emergencies and general savings so I transfer x amount to my holiday account (which I do actually have but it makes hardly any interest for me) as I put money into my isa for my holiday I simply increase the transfer by that amount so that the balance of the account isn't affected. That way I can keep the money where its making most interest but I can clearly see how much have saved for my holiday. I can't reconcile these amounts but its not a problem.

ShelfStacker_3

If you're on a Mac (and you should be) I can recommend MoneyWell for this. It costs money but is quite useful.

I personally don't find it very flexible for my personal circumstances, so I use a spreadsheet I made myself with details of all my accounts and budgeting amounts. Yes, I know, it's sad...

moon-pig_2

ShelfStacker wrote: »

spreadsheet I made myself with details of all my accounts and budgeting amounts. Yes, I know, it's sad...

I do too. That way, money can be left in whatever accounts are good payers rather than limiting the choice.

zx2011

choccyface2006 you're a star. :T

I've been using Microsoft Money since 1999 but never thought of doing that.:whistle:

choccyface2006

Glad to help

ian_h

To re-kindle an old thread skipton bs are now doing a saving account with "pots" based around youe savings goals.

zx2011

:hello: Well after three and half years of :search: I've just opened three Halifax Web Saver Reward accounts.

NB: Halifax has similar named accounts so do take care when choosing. Basically if you’re thinking Extra then don’t! :eek:
Make sure you go for “Halifax Web Saver Reward(without cash card option)”

Not only can you have up to five Halifax Web Saver Reward accounts, you can name them whatever you like. :lovethoug They can only be operated online though. :happyhear

So I've actually been doing my budget the way I outlined above for quite sometime now! In fact I haven't borrowed any "extra*" money for 2 years now. (*Still paying off a very large overdraft...)

I have tried a variety of banks though! I've been through the blue one, the (un)helpful one and then followed by the green one! I've even tried a brand new one but the less said about them the better :wall: :mad:

Anyway Halifax have been rather brilliant with everything so far :T. I can't wait to set up the standing orders for my new savings "pots". :j :j :j

One more piece of good news. The Halifax Web Saver Reward account pay a massive (but may change) 2.80% for a whole year. So this will see me through :xmastree: and :snow_grin plus my :bdaycake: until at least :easter_ba .

PS. This thread has been viewed an incredible 1,248 times. I wonder if the other banks are listening too:question: In fact didn't there use to be a "listening" bank???

PPS The spreadsheet I discovered about how to do my budget is still at Within Your Means: Financial Planning for Hidden Expenses

opinions4u

you have up to five Halifax Web Saver Reward accounts

Terms and conditions only allow for one Web Saver Reward. I don't think this is enforced though.

They also allow for 5 Web Saver Variable accounts (with card, without card, Reward), one Web Saver Extra and no limit on Web Saver Fixed.