Committed Spending Pot


Just a thought from me here:

Now that committed spending has been (mostly) worked out, how about if we could have a pot named Committed Spending, which would work as follows:

  • Every payday, the exact amount you need for your committed spending (plus maybe a specified-by-you “buffer” amount in case your DDs go up in a given month/pay period) is automatically placed into this pot
  • Then the committed spending DDs and standing orders come out of this pot

This way, your committed spending money is automatically ring-fenced to prevent you from accidentally spending it and you know exactly how much you have left to spend every month.

Any thought/improvements?

EDIT: Monzo guys, is this feasible?

(Sam) #2

This is the exact kind of feature I have been hoping that Monzo will implement. It will mean I can close my account with my legacy bank and finally go #fullmonzo

(Kieren) #3

Ditto, admittedly my savings would stay in a legacy bank as ‘Pots’ don’t give interest (to my knowledge) but it would make me more inclined to make my Current Account #FullMonzo (I’d also want Paym though)


@KH1988 They are hoping to offer competitive interest rates on Pots in the future:


Hopefully it’s on the cards! :smile:

(James Murrell) #6

this is exactly the kind of feature that I had hoped monzo would include. Please can we get this included!!


Hopefully with the Rules for Pots and all the additions in the making, we will be able to do the committed spending pots and make them suit exactly what we need.

Making Monzo today posted on twitter about the Pot Locks they are storming around as an idea, so maybe we can lock pots, except for certain payments, genuinely excited to make my pots sing and dance !

(Joe Sleight) #8

Yer I think this is a great idea. There’s so many things that could be done with pots. I’m excited to see how they developed. Would love to be able to move percentages of income into specified pots as well. Would be great for following the 50-20-30 rule.


Being able to have committed spending pots would be such an advantage!! I get paid weekly so budgeting efficiently is a little difficult, but if I could put away money from each week to cover all the bills, it would be great!


Especially if it could work out how many paydays you have per calendar month (e.g. you’re paid on a Friday so could have four or five pcm) and therefore how much needs to come out of each week’s payday to cover all your bills for the month!