Paying from a Pot

(Bas) #1

Scenario: I saved up for a house renovation in one of my pots. Now I’m starting to buy tools and screws and bits and bobs with my Monzo card but I’d really like these to come out of said pot, not the main account.

Feature suggestion: Pot Payment Review - the ability to click on a transaction after it was made from the main account and select ‘draft from pot’ (or something catchier), then select the pot from which you would have liked to have made that payment in the first place. It then takes that money from the selected and adds it back into the main account and appears in the transaction history for said pot. Done.

What do you guys think?

(Adam Robertson) #2

I think that would be nice - even better would be a way to pay for direct debits directly from pots. So I can put away money for bills and then have it come.l straight out of that.

(Daniel Spencer) #3

You could probably automate this with IFTTT. I’ve got mine setup so every time I buy a train ticket it instantly takes it from my travel pot.

(Phil) #4

That’s a superb use of IFTTT I think.
Essentially ‘piggy banking’ from the sounds of it.

(Adam Kendrew) #5

I’d definitely find this useful. For example; we are currently paying out for fees for our first house and to make sure this is easily identifiable, I have a section in my spending spreadsheet that keeps track.

I don’t really want this to be part of my overall spending, so having a dedicated pot that shows me it’s own balance and transactions spent from that balance would be handy. My spreadsheet has an opening balance for our savings and then entries for fees and any added savings over the months, with a total spent and a total balance remaining, nothing fancy.

However I’m still firmly in the Summary boat that it’s easier to ‘commit’ spend rather than have it come out of a dedicated bills pot. As I do a lot of my budgeting in a spreadsheet, I just take the ‘spending’ figure from this and input into Monzo. That means I don’t really take too much notice of the overall account balance and just keep an eye on the summary ‘left to spend’ figure, which mirrors what it shown on my spreadsheet that I update weekly.

(Haley Cole) #6

Similar to my idea to prompt to reimburse pots when you make a payment this is another way around it I hope they introduce something like this soon

(Ricky Nos) #7

I’m in exactly the same situation. I have a house fund pot that I’m dipping into on a daily basis, ifttt won’t work for automatically moving money from said pop as I’m not going to create applet’s for 10 different DIY stores on the off chance I’ll use one. A simple cick and choose interface is a nice idea, and to bundle that into the notification (like another suggestion here) even better.