You can set up a transfer to a pot.
Or wait for your salary and sort it and done. That’s what I do.
*edit
You can set up a transfer to a pot.
Or wait for your salary and sort it and done. That’s what I do.
*edit
Extensively. Any income over £100 can be ‘sorted’ into pots or other accounts. This helps with Bills pots…
It’s semi-automated. First of all create a ‘Bills pot’ (the pot can be called whatever, not literally ‘whatever’, but a name of your choice). Then go to the ‘Payments’ tab, then ‘Scheduled’ to see the list of Scheduled payments & standing orders and Subscriptions & Direct Debits. Tap on one (not a Subscription, as Subscriptions can’t be paid from a Bills pot unfortunately) and then select the name of the Bills pot it is to be paid from. Done. Then repeat for each non-subscription payment you want to pay from your Bills pot.
The Bills pot will then work out how much you need to put into it from your main account to cover the bills that are to be paid from it in your chosen payment cycle - select ‘Manage’ under the Bills pot to see these details.
So when you receive £100+ into your main account, if you use Salary Sorter to semi-automatically move an amount of funds from your main account to your Bills pot (an amount equal to or greater than the known payments to be made from the Bills pot) - then all the payments will be paid from the Bills pot and you’ve (almost*) ringfenced all bills to be paid from the Bills pot.
*Remember that Subscriptions will still be taken from your main account - but ‘Left-for-xx-days’ (if enabled) will take these subscriptions into account and calculate what you have left as ‘unspent’ in your main account.
This may take a few income/payment cycles to get right, depending on your circumstances.
Thanks David, your response is very much appreciated - it all makes sense now!
One pot for all bills except for iPhone, that has its own pot
Wow those look brilliant thank you for sharing! How did you find them?
My current “biodegradable” bags are of the “bury them in a special pile” variety so these look loads better.
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