Quiet Coin Jar - with a monthly feed item
Quiet change jar - but with a daily/weekly/monthly summary of what has been saved, with monthly cleardown to an interest payment savings account. Ability to select if it rounds up to nearest £0.50, £1, £5 etc
The Millennial Myth Jar All card purchases under £10 are matched by an equal amount moved to this jar. The jar is locked and automatically sweeps into a lifetime isa so the money is matched x 0.25 by the government and can only be returned when buying a house or taking a pension.
This will make you think long and hard about buying another beer or avocado toast or whatever impulse crap that millennials are stereotyped for blowing their money on. You’ll probably have the deposit for a house in a few years of activating this jar.
Rainy Day Jar - On days where it rains a small amount of money(20p, 50p, £1, £2 etc) will automatically moved into your rainy day jar, maybe throw in a multiplier for consecutive rainy days. Snow days cost double! Us brits should be able to save a fortune
Highest Available Interest Jar - automatically puts the contents into the highest interest paying account from a set of vetted merchants, switching as they change their interest rates.
Forfeit Jar - you set conditions on being able to access the money, like ‘not until it reaches a target’ or ‘not until 2020’ or even ‘not until I’ve done a year of exercise’ and if you do access it, a percentage is donated to a cause you dislike.
Quiet Coin Jar to enhance what we have so far.
Scheduled Payments Jar that puts money in when you are paid to cover your direct debits and standing orders and for DD/SO to come out from.
A few users not keeping to the rules of one post per user…
Add Squirrel Functionality
Coin Jar Plus to round up to the nearest £2.00, £5.00 or perhaps even £10.00 (rather than the nearest £1.00). Sure, you burn through your cash with every “flat white” (ugh, kill me now) you buy from McDonald’s, but just think how quickly your “coin jar” would grow!
Quiet & Precise Coin Jar: These two combined would be perfect. So even if a credit is received that extra change is swept up into a jar too, without cluttering up the main feed every-time.
Self-Tax Coin Jar: Apply personalised tax rates on guilty pleasures, or the things you just shouldn’t be buying. Choose x merchant to apply a y% premium to. E.g. Purchases from Macdonalds carry a 50% premium which goes into the Self-Tax Coin Jar.
I quite like this, could implement it later using the API…
Fitness Jar I’m thinking something along the lines of a penalty for everyday you don’t meet your fitness goal. For example, for everyday I don’t do at least x amount of steps or x amount of active minutes I set a rate of x amount to be transferred to a pot. Would obviously need to be linked to Fitbit or some other tracker to work. Some motivation to use that gym membership!
Averages Jar On a day where you haven’t spent anything, automatically calculate your average daily spend based on the last 3 months of spending, and move that into a new jar
Awesome Jar. Whenever you do something awesome, or something awesome happens to you, or you do something awesome for another, give yourself a little reward, put a £ in the awesome jar.
Absolutely love the “x comes from pot” idea.
My random idea would be Hungover Jar - after a night out Monzo automatically calculates how much you spent on your night out and move a % of that into a pot.
Locked regular saver jar. A jar that set a month saving amount to move into this jar but you set a date that locks the money in so you cant withdraw it until then. Typical examples would be to save for birthdays or Christmas or even annual bills such a car insurance
Xmas jar: say pay in £xx per month but it is locked until December. Never be short at Christmas again.
Reverse Jar a jar that is actually an interest-paying account with another provider. You leave your Monzo balance at zero, and your payments put you into overdraft, but at the end of each day your reverse jar automatically moves enough into your Monzo account to cover the overdraft. This way you don’t pay any overdraft fees, but you also don’t have to leave money in an account that pays no interest.
Ethical Jar Every purchase from an unethical retailer, the same amount goes into the pot. At the end of every day/week/month, the balance of the pot gets automatically divided up and paid to designated charities and a shaming report is posted on social media.
Marathon Jar A pound saved for every kilometre I run, while watching my phones motion chip. Purchases from this pot cannot be made at fast food restaurants or greasy burger vans.
Robots Might Steal My Job Jar Automatically sweep 10% of my income on payday plus whatever remaining balance at the end of the month into the pot. Only payments allowed from this pot while income is still being received are for learning new skills.
Gift Jar With a target amount and date set, Monzo will calculate how much you need to add to the pot in order to reach the target by the specified date make automatic deposits to the Gift Jar each pay day. Once the target is reached, if reached early because of manual deposits, you get the option to carry on. Exactly how Squirrel works and you can have as many of these Gift Jars running simultaneously as you can afford. If trying to add more than you can afford, Monzo will suggest lowering the spending limit of one or more or even all other Gift Jars.
Would love the Quiet and Precise Coin Jars. I prefer my balance to be a whole number.
[Category] pot: Transactions from certain categories should be taken out from their respective pots (excluding certain ones like internal/ expenses) and after salary has been paid in, an amount should be swept in by what the user has allocated in targets and force the user to stick to the targets they have set more rigorously
I Can’t Be Trusted locked pot: sweep a % of salary/ top-up automatically into a locked pot, to be opened on birthday/ near Christmas/ etc.
OK this is an amazing idea - best one I’ve heard!