How Monzo Supercharged My Savings Game!
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- Опубліковано 5 сер 2024
- In this video I explain how I use Monzo pots to save money fast.
I used to find it difficult to save money fast, but since I started using Monzo pots I have found saving so much easier!
Go and check out this video where I share my payday routine and show you how I budget my salary, complete with a link to the budget spreadsheet I use: • 💸 my PAYDAY routine 💸 ...
This video is not sponsored, but if you want to try Monzo, use my signup code and we both get a FREE £5 (everyone with Monzo has a signup code and can do this with friends/family): join.monzo.com/c/4z0h5bd
Chapters:
00:00 - Intro
00:21 - What are Monzo pots?
01:31 - How pots helped me save (mindset)!
3:46 - Which pots should you create?
4:05 - My pots
8:11 - How to work out how much you can save per month (realistic)!
9:44 - How to set up your own pots
10:15 - What you SHOULDN'T use pots for!
Camilla x
I'd personally not have one bank account or atleast one place for all your money.
Have a backup account for any emergency fund. It only takes one wrong move to have an account frozen or worse cases be a victim of fraud.
Excellent advice - a very manageable method to manage money! I feel so inspired to save! Thanks for sharing. 💰
You are so welcome!
I have pots for vets bills, DIY, car maintenance, holidays, gifts and Christmas, medical, home insurance. Lots of pots. My emergency 3 month living account is in a separate high interest account. I love watching young people with brilliant financial mindsets. It really should be taught in schools.
I love the sound of your pot system and congrats on having a three month emergency fund! Not many people do, so it’s a huge achievement! I completely agree - money management should be compulsory in schools.
I commented other things earlier on but I've honestly followed your advice. I feel like I've saved a lot more.
There are now Instant Savings Pots within Monzo with a 3.20% interest rate.
Your advice has helped honestly. 😉
Thanks Jack! You are right about keeping money in different accounts in case one gets hacked! I will check out those instant savings pots with 3.2% - thanks for letting me know 😀
@@Camillatalks Not a problem!
I use Nationwide as a backup bank with a bit of funds in it.
In terms of Savings Pots though, you just enable it in Monzo labs and then you have the option to use Monzo ISA Pots. There's also a Safety nets feature too, which is identical but ie primarily used in the event of an unexpected bill or loss of income.
All ISAs and Safety Nets have the interest
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Italy?
ahah I wonder if people are going into investing, it seems that so many people are going into things like crypto and stocks lol