Do people use savings pots to manage annual club subscriptions?
Considering a typical scenario
Squash club (£295)
Porsche Owners club (£60)
Golf club (£1,800)
Gentleman’s club (£600)
Yacht social club (£35)
Badminton club (£180)
I suppose you could create a pot for each club. Open each for a 0.01 and setup a monthly contribution (x/£12). Then when the pot hits £500, convert to a ‘interest bearing’ pot and divert the monthly sub. Seems a maintenance pain right? Each year the subs go up too - more maintenance (yawn).
Create a single ‘subscriptions’ pots and aggregate the monthlies. You might maintain a minimum of £500 in this case - just withdrawing when a club comes due.
Is there a feature where pots automatically convert to ‘savings’ pots?
Curious to know how others manage this or if they bother at all.
Sorry for going off topic. I’m always intrigued about private member’s clubs (I’m assuming that’s what this is, unless you’re a member of a strip club )
For me it’s ‘what else is there to do after playing sports’?. Go somewhere where you know everyone, in comfortable surroundings, can chat about anything without any politics…and everyone from a similar background/culture!
I see many people sat in watching soap operas every day. This doesn’t appeal to me. I’m out every night!
I 100% make a pot of every subscription of any sort; one for water, one of council tax, one for Apple Music, one for badminton etc. So I’m quite glad monzo’s pot limit is quite large
Well now since I pay for Plus, the 1.5% covers any pots as well that aren’t savings pots.
I still have my usual savings pot that money goes into every month - so I literally split everything down and then put the rest into savings.
So I have my up to 4k in my normal pots and account to get the 1.5% Mozno Plus interest
And the rest of my savings in a savings pot for longer term savings and higher interest👌🏻
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