The 1p saving challenge!

(Andy) #103

Technical question, what would happen if there isn’t enough in your Monzo balance to cover the daily challenge if a) you have no overdraft b) you have an overdraft?

(Jack) #104

In both instances it doesn’t run and you get a message in app saying it didn’t run because there isn’t any money to move etc.

4 Likes
(Andy) #105

If I started on 1st Jan, how much would I have saved by now? I’ll just chuck in the difference.

Sorry I’m not a maths person :man_facepalming:t4:

#106

£145.35

1 Like
(Andy) #107

Looks even better with Pot Goals

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(Starling Guru) #108

How you do that?

#109

Enable goals in Monzo labs. Set the goal to £667.95. :sparkles:

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(Andy) #110

Go to account under Monzo labs select the toggle you will then be able to go to your pots and set a goal :+1:

1 Like
(Starling Guru) #111

Cheers @redshift @AndySUK

Monzo should E-Mail these things :eyes:

#112

Not when it’s in Labs. Stuff in Labs should be used with caution.

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(Starling Guru) #114

I know that but should defo mail TestFlight users

2 Likes
(Toby William Shaw) #115

Sorry if I’ve missed it (A lot of comments on here) but if you all take a look at IFTTT they have the 1p savings challenge on there! An automated thing which will transfer the money to a pot for you.

Also, even better news, Plum now works with Monzo! https://friends.withplum.com/r/2NNg86

Give the link a click and sign up to Plum. They also now do Investments. It’s helped me save a decent amount over the months.

1 Like
(Andy) #116

Is there a way to get the 1p savings challenge to work on the Investec interest savings pot? (After you’ve funded it with the minimum £1000 first)

#117

Can you not select that pot as the one to deposit it?

3 Likes
(Elena) #118

I would agree with the monthly steps…:roll_eyes:

(Adam) #119

Fair enough.

I think the post towards the top of this thread sums it up for me - saving small chunks daily will hopefully be unoticable.

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(Sergiu) #120

I’ve read about another similar challenge online: save £1 on Monday, £2 on Tuesday… and so on until Sunday, when you put aside £7. Rinse and repeat every week or just put aside £28 at the end of the week and by the end of the year you should end up with ~ £1450 :ok_hand::moneybag:

If you’re serious and committed about this, you can create a new pot and set it to unlock only at the end of the year! Now that’s a proper challenge! :wink:

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(Andy) #121

I had to restart my 1p savings pot. Can someone tell me what their pot is on today please? I’ll top up automatically. Thanks.

#123

£24.85

1 Like
#124

Can this be used with a joint pot, or is limited to a personal account?