How to Separate Your Savings in Monzo and Achieve Your Goals
If you’re looking to better manage your finances and hit your savings goals, separating your savings in Monzo is a great option. Here’s how to activate a savings pot in under a minute.
Step-by-Step Guide to Create a Savings Pot
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Open the Monzo App
Launch the Monzo app on your device and navigate to the home screen. -
Create a Pot
Tap the plus icon or scroll to the bottom of your account page and hit “Create a Pot.” -
Choose the Type of Pot
Select “Savings” if you want to earn interest. Alternatively, create a regular pot for easier goal setting. -
Name Your Pot
Give your pot a meaningful name like “Emergency Fund” or “Travel.” Personalize it by picking an icon or relevant image. -
Set a Savings Goal
If you want to track your progress, set a specific goal for your pot. -
Decide on Pot Locking
Consider locking the pot for a set period if you want to resist the temptation of withdrawing funds. -
Adding Money to Your Pot
You can add money manually or set up automatic transfers from your main account. Additionally, you can enable roundups which automatically transfers spare change from everyday purchases into your pot.
Managing Your Savings Pot
Once your savings pot is created, it will appear right alongside your main balance. You can easily dip in or out whenever needed—unless you’ve opted for a locked pot.
Conclusion
Your Monzo savings pot is now active, allowing your money to work smarter for you. If you found this guide helpful, feel free to hit like, comment with any questions, and subscribe for more app how-tos. Thank you for watching!
