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You don't want to miss this GAME CHANGING way to save for expected expenses

3/14/2020

 
Companies like Revolut and Monzo have these two neat features that have made it easy for me to set up my curve ball savings account. Using one account, I am now able to split my expected expenses (such as travel, phone replacement, transport, beauty service)  into different pots. PLUS I get interest payments.
 Read more about  why you must have a curve ball account
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Curveball accounts help you manage the WHEN and IF it comes!
The problems I was having
Up till now, I used one savings account to save for curveball expenses. This account did not let me split my expenses and so I set up my automatic savings to hold it all in one go. if I wanted to split expenses into a savings account, I would need multiple savings accounts to track each of my curveballs. 

For me this was too much overhead. I don’t want too many savings account to track and maintain.
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Saving pots with Monzo and Vaults with Revolut 
My new curveball best friends are these saving pots and vault features from monzo and revolut.
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Why I like them
  1. I already have an existing account with these companies and so I do not need another account number
  2. I can open as many pots as I want (I opened 6)
  3. I earn interest on my savings
  4. I can set savings goals
  5. It’s all neatly tracked on the app
  6. I can set up recurring payments and top up as I wish

6 benefits! I am abuzz. At this time, I decided to go with Monzo saving pots because Revoluts saving vaults is only available to members with a Metal card which is available at £12.99 a month. At the time of wring this article, the Revolut interest rate is  higher than Monzo'.

If you have a Revolut Metal Card, watch the video below to see how to set up your Vault 

How I have set mine up 
  1. I decided how much I want to allocate to curveballs from my income. Watch how to budget
  2. I set up savings pot on the Monzo app with a recurring date for monthly payment 
  3. I set up a standing order from my bank account to Monzo (Note if Monzo is your current account, this step does not apply)

Now I can track all my curveballs in one place and this has significantly made it easy for me to be on top of things. If I want to save for another thing maybe a trip next year, I can set up the a new travel pot and start saving so it does have to be a worry.

Watch the vido below to Learn more about Monzo

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