As a salesmen on commission, the problem for me is that my incomings can change month to month by large amounts. Now because of that, my direct debits and standing orders kind of have to be done manually because I wouldn’t want a large chunk of money leaving my account into a savings pot, if I didn’t have the money there!
My solutions would be to have flexible standing orders. Ie; if I earn over X amount, then transfer Y to my saving account, if it’s less than X, don’t move anything, or whatever. Or possibly, I need a certain amount for bills, the rest I want to split in these ratio / proportions to various savings or accounts, up to a max. So, as an example, anything above £X could be split: 50% to Nutmeg, 30% to Zopa and 20% to my ISA account up to a max of £Y total. Or something like that.
(This could even work for budgeting, swapping 20% into ISA for 10% into “Entertainment” and 10% for “Eating out” so I know I can treat myself that month!)
I was just wondering if anyone had any thoughts on this?