So I have started using the Bills pot to some success recently, but I have found in some instances that if the money going into the pot, and a bill coming out fall on the same day, you may run into some issues.
I noticed this morning that my rent payment (which should come out of my bills pot) was actually paid from my main account before the money for the bills pot was transferred. The full amount for the bills pot was then transferred after, leaving my main account down the value of my rent (in reality, it’s just sitting in my bills pot doing nothing).
I’m not versed in the orders of transactions for direct debits and standing orders, but I assume that income takes priority, debits second and then transfers to pots 3rd. It makes sense, transferring into a pot is likely to be less of a priority than paying a bill etc.
I’d love to be able to actually pick an order or priority for payments coming in and out of my account on the same day. I do this because I like to have most bills paid by the first of the month and then everything remaining is either savings or spending money. This can be difficult sometimes depending on when you get paid.