I love your latest budgeting video! Thank you so much for sharing and being so honest! Please may you do a video on how you budgeted to get out of debt/pay off loans?
I love Monzo, but I wish they had developed in the ability to auto recognise what type of spend it is so that it could take the money straight out of your pots. For direct debits it should be simple enough to do at the very least. I find myself using them at the start of the month and then just losing track and spending from my balance.
You can set direct debits to come directly out of pots! If you go on 'Payments' then click on the direct debit you want from the list you can set it to be paid from an individual pot. It's helped me massively in organising my bills x
If you pay £3 a month for Monzo plus then you can have up to 5 virtual cards and link them to your pots! I save them to apple wallet so when I pay for food for example, I know it’s the green card and it comes straight from the food pot. Or my subscriptions are yellow and they’re all set up now to come from that card and so from that pot. Honestly it’s a game changer because I used to do the same as you. So worth the £3!!
So you can only have 5 virtual cards so I set up: food & essentials (including household products and toiletries), subscriptions & recurring expenses (Netflix, hair cuts, tv licence etc), transport (allowing for Ubers and city bikes as I finish work late at night) and then spending money! So I’m only using four at the moment and then I have separate pots for savings with no card linked to keep them harder to access. Honestly all of this has helped me save and control my money so much more than before!
Thank you for being so transparent. I must say though in Australia it's rare people talk about what they earn and spend etc so I found this this to be information that's probably a little too personal to share. I think the idea of pots etc is great but not sure we need to see your numbers and how youre personally tracking
I stared with the hard but moved to Monzo and absolutely love it. I’m paying off debt and I have 2 cards on 0% which will pay off in March 2025 however by saving in Monzo I will be debt free December 2024.
Hey! I’m new to your channel and really love all of your videos! I’m currently 16 weeks pregnant and have found your newborn must-have videos super straightforward and helpful 😊 Random question - please can you tell me where you got your new earrings from? Are they waterproof? They are so cute ❤
Great video Shan, love the budget ones! I just upped the payments into my kids ISA's, got to take advantage of that compounding! And feel you on the mortgage, ours went up last year, new amount swallowed up our overpayments 😭 but it is what it is, we are now overpaying again. I also do pots, but I just keep track of them in a spreadsheet, money all in 1 savings account (actually 2, one savings is instant access as much as i want, the other has much better interest but i can only withdraw once a month). Doing it this way has massively improved my finances, everyone should do it! X
Hiya, wouldn't it make sense for you to pay in to ISAs for your longer term goals. I don't invest in kids ISAs as it locks it away, my rule is pay more in to pension pay and more in to my ISA first. Your return on your ISA could be far better than a saving spot - I'm 35% up from 12 months ago for example. Savings pots cannot offer you that return.
I notice you budget £200 each per month for groceries. How do you stick to this with a family of 4? We at least spend double 🙈 A weekly food shop/how you plan meals would be great to see. Relatively new to your channel but love what I’ve seen so far xx
Thanks Shan! I love your money videos - strange questions but on your reels it looks like you use a fish eye affect? Please can you say what it is you use? X
Why are the kids clothes and activities your expense only? Does your husband expect them to be dressed in rags and never do any activities outside the home?
