Best Way To Manage My Money

Hi guys.
Currently I have a financial advocate who receives all my benefits,pays all my bills,transfers me a set amount each month into my Monzo account for spending and looks after my savings.

In the future, I will be looking after my savings and will not need the financial advocate.
I want a secure account to keep my savings in, and it must have the facility to bank transfer myself some spending money each month into my Monzo current account. I also need to be able to pay bills etc
I’m not looking for an account which uses a debit/credit card as I already have two.

Can anyone recommend the best way to go about this and which accounts would be suitable for my needs ?

I don’t want my savings in my Monzo account because I use it online ( just for security reassurance ) I just want to transfer money to my Monzo each month for spending

Thanks !

You say you have two accounts that use cards.

The simplest way would be to use one of the accounts to pay your bills, cut up the card on that account, then another account for your spending, so you have a standing order set up on your income/bill account going into your Monzo account (if that is going to be your spending account)

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Thanks for the reply.
The other account is Barclays, and you need a debit card and reader to make transfers

I’d probably just setup Starling to be my other account and disable the card in the app.

No you don’t unless its online only web access. I haven’t used a card reader on my barclays account for over a year. You use the app for verification nowadays. Plus if you don’t want a debit card, Barclays will on request send you an authentication card free of charge for reader use only.


I forgot to add, I have a Natwest savings account with a cash card that i’d be happy to use. the only question is, can you pay bills with a savings account ?

Some banks let you. It depends on the account. It should tell you if you can on your internet banking platform.

Don’t have that setup at the moment, I will pop into the branch this week and find out :slight_smile:

You are not liable for any fraud so it’s safe to keep it all in Monzo.


Thanks mate.
I think I will keep all the cash in my savings, transfer money once a month into my Monzo and also use monzo for my bills.

Will discuss with my advocate and see what he thinks


Might be worth looking around as to how Monzo deals with chargeback cases like this to put your mind at ease. So far I haven’t heard any horror stories and plenty of success stories where people got their accounts drained overnight and got it all back in an hour or so.

The reason I’m advocating for keeping it all in a single account is for ease of use. It’s not about Monzo vs the other banks (you could choose Starling instead if you want), but it’s easier to manage your money when you just have one account and one balance to look at and know exactly where you are as far as money goes (plus the budgeting features can only work for you if you use the single account for everything). I’m going through the same situation with a friend who’s in financial hell and the first step (after consolidating credit card + existing overdraft into a single loan) was to get her on Monzo and get salary + all bills in there.

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For many people it isn’t simple having the one account. Sometimes having a totally separate one for bills and one for spending is more effective.

For some it works having the one account.

No simple rule for people that are in financial difficulties, but actually the easiest way to get out of a financial problem is separating the issue from your main, ie keeping your debts separate.

Also with an account that could potentially offer loans and overdrafts it isn’t often the best idea the one account for everything.

Agreed that depending on the reason behind financial difficulties, multiple accounts might make sense. In this case though I believe the author is simply concerned about managing their money and having a clear view on it, so a single account would be better IMO.


You might want to let Monzo know about your situation. They may be able to offer tailored help. Nice blog post on this today