I just wanted to find out whether people have more than one thing they save up for at a time and how you organise this within pots in Monzo?
I am currently saving money in order to move out of my parents house, into rented accommodation - probably within the next 3-5 months. I am saving quite hard, 30% of my income each month since the start of they year is going into my “move out fund”. I also have round ups switched on this pot, plus participating in the 1p savings challenge. This is currently the only pot within Monzo I have because it is my only focus.
Once I’ve moved out - I will use the money in the pot for rent and other costs associated with moving out. I’ll probably begin a second pot for general savings at this point too (probably lowering my saving amount to 20% of my income as I will have higher living costs), but I’d like to save for other things, like a holiday - once I have moved out.
Do you use multiple pots for specific things? How do you decide how much to put in each?