‘LockYourPot-tober’: The new saving challenge to help manage your money this October

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Pumpkin Spice Lattes are back, the John Lewis Christmas ad is a few weeks away, and it’s officially cold again. The countdown to Christmas has begun. 

If you’re looking to save some money towards a savings goal like Christmas presents for the family, a big Christmas dinner or if you’re just trying to build your financial safety net, why not try ‘LockYourPot-tober’?

What is ‘LockYourPot-tober’?

LockYourPot-tober is pretty much what it says on the tin. It’s a challenge where you keep your money locked in a Pot until the end of the month. It’s a perfect way to save if you find it difficult not to dip into your savings each month!

The challenge starts in October and can last for however long you like, depending on how long you choose to lock your Pot for.

How to get started with it

To lock a Pot, you need a Monzo account. If you don’t have a Monzo account already, here’s how to get one.

If you already have a Monzo account, enter LockYourPot-tober:

  1. Head to the Account tab in your app

  2. Create a new Pot, or edit an existing one

  3. Choose how long you'd like to lock it for

You can add money as normal, but you won't be able to withdraw any. If you really need to unlock a Pot then you can. Just tap 'Unlock Pot' and 'Withdraw.'

Locked pot image

Let us know how you’re getting along in our Savings Squad group on Facebook.

Good luck!💪