Add Squirrel Functionality


(Nadyusha) #1

I love Monzo, and would be great if Monzo can add some features to help from overspending.
There is a good other service, I’m using it and wonder if Monzo can create something similar.
Service is paid. The main feature for me is: you transfer some money to the account, and they split it to weekly payments and pay it back to you weekly. So you can’t spend your “pocket” money at once. Also they track information about your upcoming bills, keep money safe and transfer them to you when bill is due.


( surohpotsirhC) #2

What’s the service? I don’t think there’s a problem with you mentioning them. Referral codes are a contentious issue admittedly but feel free to link this service up.


(Excited about Christmas) #3

Are referral codes contentious? There’s a whole thread for sharing them!


( surohpotsirhC) #4

Exactly. That thread exists because of complaints and arguments about them.


(Gareth) #5

It’s Squirrel



(Kenneth Cajigas) #6

This sounds very much like Squirrel


( surohpotsirhC) #7

Thanks people. I remember it coming up now.


(Nadyusha) #8

yes, exactly. This service helping me a lot with spreading my money over all month ))) Would be great, if I could have this functionality with Monzo. Happy to pay for it.


(Andy Barnes) #9

Just been looking at using Squirrel with Monzo as the current account.

How much flexibility do you have? I read on their site that if you need your money back you sometimes have to wait a day for it? What if I know that I’ll be wanting all my spending in week 2 as I have lots planned in for then? Can I get more that week than the rest?

Or if I am in an emergency and need £300 for something. Again, would I have to wait for that money being made available to me?


(Alex Sherwood) #10

I’d recommend just using Pots to be honest -


(Ben Green) #11

Yup, Squirrels functionality will be easily replicated (and then some) after the launch of the rules for pots feature.


(Andy Barnes) #12

I guess the bit we are really missing is hiding monthly direct debits and standing orders in a Pot or similar so it’s not in my available balance.


(Alex Sherwood) #13

Well you can transfer the amount that you need to set aside for that into a Pot manually but it won’t be automatically set aside yet no.

That idea’s been suggested a few times in this topic so give the post a like :slight_smile:


(Andy Barnes) #14

But then I’d need to bring it back into the account to pay the bills so just need that and we’re sorted :slight_smile: . I’ve seen in another thread that folks use another current account for their fixed outgoings and then you’re pretty much replicating the Squirrel functionality.


(Kevyn) #15

The problem with pots is it is easy to transfer money between them. Squirrel segregates your money so that it is slightly harder to do opportunistic spending. It also does some things automatically which pots can’t do right now. I DIYed Squirrel as I liked the idea and automised it between different current accounts. It’s also why I don’t use pots right now.


#16

Can you expand on this, please?


(Kevyn) #17

@garete posted a better version of what I do with my budgeting.


#18

Thank you both :+1:


(Rob) #19

Sounds a good idea for a pot


(Andy Barnes) #20

The ‘yearly’ bit on here. Is that for stuff you might pay annually, like car insurance and also holidays that might need paying off (or would holidays be in saving)?