Borrow money from Pot

This might just be the way that i manage my finances, but i keep almost all my money in pots, and quite often ‘borrow’ money from a pot.

For example, booking flights for a group of friends, i’ll take money from a pot that may be destined for something else, say tax or christmas, then pay the money back in once i have received the money from my friends.

The problem is its hard to remember how much or where you took the money from.

It would be great to have two options when withdrawing from a pot

Withdraw - removing money without intention of replacing it

Borrow - withdraw but track amount removed so you know how much you need to pay back.

It sounds convoluted perhaps, but we’re in the middle of moving house and so are making some big purchases that the house sale would cover, but since it’s before the purchase has completed, we have been using various savings, making it hard to keep track of.

This is more or less exactly how I work too and I would love the ability to do something like this.

The way I do it at the moment is a Marcus account with all of the “big” pots I can borrow from mushed together in the one place. Then I have to track what should be where and how much I’ve ‘borrowed’. I guess I could do this just as easily with a big Monzo pot, but I don’t.

The Monzo pots I have are the smaller ones where borrowing just wouldn’t work.

My ideal would be an interest bearing savings account onto which multiple pots could be “mapped”. Some pots would have positive balances and some negative. (Clearly the overall balance of all of the relevant pots needs to remain positive for this to work!)

Do THAT and my business is Monzo’s forever.

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Wouldn’t it be in your feed?

Yes but if you’re paying it back over an extended period, a current balance is easier than an initial figure and a number of payments to be worked through.

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Ah, that’s a fair point. OP didn’t mention the time period but I can see how that may be useful for some.

I would love something like this.

It’s similar in principle to having a Goal on a pot (except covering just the amount you withdrew)

For both Goals and your proposal of Borrow, the tracking could convert into an auto-set up pot transfer.

You borrowed £1200 from your Christmas Pot. Pay back £X each month to pay back by [date].

With the familiar + / - buttons to adjust the payback rate.

Add a page in the app elsewhere that tracks all your borrowed moneys…

And boom you’ve got a budget going.


I like this!

Yeh this is a great idea. We put all our money into different pots like diy pots, holiday pot, saving pot etc… then pay for stuff out of the main account. It would be great if we could just tap the transaction and take the money from which pot it was under. So for example if I brought flights that transaction links to holiday pot and the money comes out of there to replace it to the main account. Hope that makes sense.