One of the easiest tools available for saving money today is Savings Pots (sometimes called “Spaces”), offered by banks and challenger apps like Monzo and Starling.

These digital pots let you separate your money into different categories (like folders on your computer), making saving simpler and more motivating.

Money Redefined
Quarantining your money into folders is a surreal experience that gives you a complete new definition of money. It should remind you that money is essentially a resource represented by figures, and its purpose is to be allocated appropriately to the areas where it can fulfil its intended function.

1. Easy to create Savings Pots
Savings Pots allow you to create specific savings folders, for example Car Repairs, New Appliances, Birthdays, Christmas etc. They allow you to create as much as you like to make your budget savings the easiest.

2. Save Towards Goals
Whether it’s a holiday fund, new home deposit, or Christmas shopping, having separate pots helps you stay focused. Instead of all your savings being in one place, you can see exactly how close you are to each goal. Savings pots allow you to set up your goals and gives you in percentage terms how much you’ve travelled towards achieving them.

3. Automate and Stay Consistent
Savings pots are designed with the basic optional function of adding money automatically monthly or weekly depending on your preferences. You don’t need to set aside huge amounts. Even £10–£20 a month can build up. Challenger banks make this easier by letting you:

▪ Round up spare change from purchases into a pot.
▪ Schedule automatic transfers into pots right after payday.

This creates a habit without needing to think about it.

Savings Pots are a practical way to stay organised and motivated. By dividing your money into clear categories — emergency, goals, and everyday extras — you’ll always know where you stand. Over time, these small steps create financial security and freedom.