Potty for pots: 5 ideas to kick-start segment saving

Sweet treats, fun events, and spare change are all examples of saving pots that you can set up today. Reach your specific saving goals and help develop good spending habits by utilising the digital jam jar method.

From a young age, I was told I simply 'needed to save'. For what purpose, in what way and how much? None of that information was important, apparently. But when you’re saving without a purpose it can be difficult to motivate yourself – and to know when you should feel satisfied.

As I grew older, I figured out why I should save, but I lacked the relevant resources to help me. One way I’ve been able to focus my savings objectives is by using saving pots, which are a great way to visualise your goals and track progress. For many of us, it’s a psychological thing.

When people set up and make use of savings pots as part of their financial habits, they’re more likely to achieve their financial goals.

So, you've been won over and want to start your journey into saving pot success? Here are some pot ideas to help kick-start some better money habits:

Emergency pot

A good place to start is setting an emergency fund pot. It will come in handy when an unexpected expense pops up and your regular income just doesn’t stretch. When you’re thinking about how much you need to save for this pot, aim for three to six months of your regular expenses. You can build this slowly over time, so don’t feel overwhelmed if it seems like a large number for you.

Cheeky treats

If you’re anything like me, you love a daily cheeky treat, whether this is a fancy coffee, a pastry, or a lunch out. Every week, I add some funds to this pot, so I have a dedicated sum allocated for sweet treats. If I skip a treat, I can indulge in something more decadent later in the week. This is helpful as it means I don’t overindulge, and I’m aware of how much I'm spending. Earmarking an amount reduces guilt and helps keep your savings on track.

Fun fund

Nights out, concerts, events, spontaneous activities. A fun fund allows you to enjoy your life. Set aside an amount each month that feels achievable and let this be your marker for how much you want to spend on entertainment. This is also useful because you can set boundaries that stop you from spending too much. You have a valid excuse to turn down plans because they don’t align with your financial goals.

Spare change

This is the easiest and most effortless way to save. If you buy an item that costs £17.71, how much are you going to be burned by an extra 29p? Probably not much at all, especially when you consider that the extra 29p could actually be making you money. If you have an account with Chase, you can choose to set your account to round your spending up to the nearest pound and automatically pop it into a Chase round-up account that pays interest.

Major event funds

Is a friend's milestone birthday coming up? Are you getting married? Have you been invited to someone’s destination wedding? Sometimes, I dread receiving that birthday dinner invite because I know I'm about to drop a substantial amount of unplanned cash, which might throw me off my monthly budget. If you’re a social butterfly with an active calendar, then it's probably a good idea to start saving for celebrations. Major events like weddings usually have long lead times, so planning to save can start early.

These are just a few pot ideas to try. Pots can be specific to your life and needs. Think about the obligations, goals, and lifestyle habits you have to build a pot system that works for you.

Looking for somewhere to keep your savings? Bank with Chase and you can open a saver account. You can even open multiple saver accounts. Start saving with as little as you like, and we’ll calculate your interest daily and pay it monthly.

18+, UK residents. A Chase current account is required to open a saver account.

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• How I learnt to save
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