Introducing Salary Sorter and Bills Pots 🎉

Forgot about that workaround, even though I use VC’s for kids spending cards.

But ya know, Personal account is otherwise dormant apart from IFTTT 1p Saving challenge and paying for Premium.

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I have a virtual card for my subscriptions. Every single outgoing I have goes out of my bills pot. Anything in my current account is free game to spend.

I’m not sure why the OP is getting stick for wanting the bills pot to marry up with what’s going out of it. I don’t add up my bills anymore because they all come from my bills pot. On payday I go into the pot, it says how much I need and I transfer that amount across.

It doesn’t wildly vary month to month so I’m pretty safe, and when it does it’s a couple of quid and I can just transfer that in. But a pop up saying that Monzo has noticed I won’t have enough to cover the month wouldn’t be exactly stretching the boat.

The OP is using bills pot exactly how Monzo designed it.

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And back to the subject of Plus/Premium for Joint accounts…

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Hello.

I came here to say exactly this. It’s just far too fiddly to try to get it exact; better to have a buffer that can absorb a couple of months, and readjust yourself.

An alternative, and I honestly think a superior one, is to use a virtual card tied to a pot for your discretionary spending, leaving all your other money in the main account for bills, and then only sweeping excess savings away at the end of the month. That way you get the feedback benefits of limiting your discretionary spending, without the fiddle of the bills pot potentially being underfunded. Are you really losing anything by not using the bills pot one has to ask? These are two sides of the same coin - both are about not overspending (the bills pot prevents you from spending your rent by mistake; a virtual card tied to a pot prevents you from overspending a pre-allocated amount); but in one case you have your excess funds grouped with your discretionary spending (bad, lets you easily overspend), and in the other you have your excess funds grouped with your bills (good, stops you from missing a payment, but also good because you’re now de-facto doing envelope budgeting). And if you want to know what your bills spend is then just make sure those payments all have the “bills” category, and you’re sorted.

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Being an overall user of the KISS approach, I put £30 extra into my Bills pot per month (£30 above what the Bills pot informs is upcoming) and this usually takes care of it. After 3-6 months of this, there’s usually a little chunk of extra money in the Bills pot that can be used elsewhere.

KISS = Keep It Simple Sunshine

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That was what I used to do. Now I just sweep it into my emergency fund pot because interest.

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The more I think about it, the more the bills pot feels totally redundant. Why bother if you have Plus/Premium? Like, genuinely, is there anything I am missing? I use the bills pot on my Joint Account (hahaha, no virtual cards there eh :rage:), but imagine that we had joint account parity - is there any single benefit to not just putting spending money into a pot with a virtual card and taking a total swerve on the bills pot?

Or, if account parity with JA, putting EVERYTHING into an IASP?

With interest calculated on a daily basis, engineer it so most bills are at the end of the cycle = interest boost?

In its current form I’d agree. What with virtual cards the ability to pay all bills directly from the pot and to have multiple would be a potential next move

I honestly always thought it was “Keep it simple stupid”

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It definitely is, right? I’ve never heard of “sunshine”
before.

Or have we entered the @davidwalton’iverse?

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My 'iverse is a happy, inclusive place - where all can play and contribute without judgement.

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This doesn’t work for me at all, didn’t on android and now it does load the screen on Apple, when I enter numbers to replace the 0 they just don’t stay put.

Now we have Pot-to-Pot, please can we have joint pots on salary sorter.

I’ve just got paid and I’m moving money to the JA, but then I’ll need to go to the JA and move it to each pot, would be splendid to have it all here.

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What do we want?

PARITY!

When do we want it?

NOW!

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This no longer exist? Just tried to sort my salary and the option isn’t there.

I used it this morning.

To be fair, I’ve had issues in the past with it but now doesn’t show anywhere at all.

Using Monzo is the most fun I’ve had testing a beta product in years. Something new every day.

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